DA Davidson Has Positive Forecast for MasTec FY2024 Earnings

MasTec, Inc. (NYSE:MTZ) – Investment analysts at DA Davidson lifted their FY2024 earnings estimates for shares of MasTec in a research note issued to investors on Monday, November 4th. DA Davidson analyst B. Thielman now anticipates that the construction company will earn $3.44 per share for the year, up from their prior forecast of $2.72. DA Davidson currently has a “Buy” rating and a $125.00 price target on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.69 per share. DA Davidson also issued estimates for MasTec’s Q4 2024 earnings at $1.21 EPS and FY2025 earnings at $5.34 EPS.

MTZ has been the topic of several other research reports. The Goldman Sachs Group lifted their price objective on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. KeyCorp lifted their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and upped their price target for the company from $133.00 to $173.00 in a report on Tuesday. Robert W. Baird raised their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday. Finally, JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average price target of $148.62.

MasTec Stock Up 3.0 %

NYSE:MTZ opened at $140.63 on Wednesday. MasTec has a 1 year low of $46.70 and a 1 year high of $140.98. The stock has a 50-day moving average price of $120.78 and a two-hundred day moving average price of $110.95. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of 125.56 and a beta of 1.70. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock valued at $5,558,301 in the last three months. 21.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasTec

Large investors have recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC acquired a new position in shares of MasTec in the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC raised its position in MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in MasTec during the second quarter valued at approximately $40,000. UMB Bank n.a. boosted its holdings in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares during the last quarter. Institutional investors and hedge funds 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.