MasTec (NYSE:MTZ) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• MasTec has been upgraded to a "strong-buy" rating by Wall Street Zen, up from a previous "buy" rating, indicating strong confidence in the stock’s future performance.
• Several other brokerages have also raised their price objectives for MasTec, with a consensus target price now at $197.84.
• The company's recent earnings report exceeded estimates, with revenue of $3.55 billion for the quarter, marking a 19.7% increase compared to the previous year.

MasTec (NYSE:MTZ - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Sunday.

MTZ has been the subject of several other reports. Baird R W upgraded shares of MasTec from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Roth Capital assumed coverage on MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective for the company. Stifel Nicolaus upped their price objective on MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. raised their price objective on MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group lifted their target price on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating and seventeen have given a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $197.84.

MasTec Trading Up 0.7%

Shares of NYSE:MTZ traded up $1.46 during midday trading on Friday, reaching $200.91. 1,695,425 shares of the company's stock were exchanged, compared to its average volume of 903,325. MasTec has a fifty-two week low of $99.70 and a fifty-two week high of $201.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 59.44 and a beta of 1.81. The firm's 50 day simple moving average is $181.79 and its two-hundred day simple moving average is $155.67.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the company posted $0.96 earnings per share. The firm's revenue was up 19.7% compared to the same quarter last year. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, sell-side analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the transaction, the executive vice president owned 101,349 shares of the company's stock, valued at $18,312,750.81. This represents a 8.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the sale, the chief operating officer owned 194,249 shares of the company's stock, valued at approximately $33,993,575. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,000 shares of company stock valued at $4,128,070 in the last three months. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in MasTec by 163.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock valued at $121,843,000 after purchasing an additional 648,184 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in MasTec by 370.0% in the second quarter. Qube Research & Technologies Ltd now owns 506,857 shares of the construction company's stock valued at $86,384,000 after purchasing an additional 399,007 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in MasTec by 171.2% in the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company's stock valued at $45,607,000 after acquiring an additional 246,666 shares in the last quarter. Vanguard Group Inc. boosted its position in MasTec by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company's stock valued at $1,017,858,000 after buying an additional 234,594 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock valued at $106,234,000 after acquiring an additional 184,277 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.