Shares of MasTec, Inc. (NYSE:MTZ – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $113.69 and last traded at $113.01, with a volume of 372320 shares. The stock had previously closed at $112.28.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on MTZ. B. Riley boosted their price objective on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group raised their price objective on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Stifel Nicolaus upped their target price on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup raised their price target on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, DA Davidson upped their price objective on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.50.
View Our Latest Stock Analysis on MasTec
MasTec Trading Up 0.3 %
MasTec (NYSE:MTZ – Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. Research analysts forecast that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.
Institutional Investors Weigh In On MasTec
Several large investors have recently made changes to their positions in MTZ. Point72 Asia Singapore Pte. Ltd. bought a new position in MasTec during the 2nd quarter worth about $86,000. Sycomore Asset Management grew its holdings in shares of MasTec by 59.4% during the second quarter. Sycomore Asset Management now owns 20,620 shares of the construction company’s stock worth $2,240,000 after buying an additional 7,683 shares in the last quarter. Creative Planning acquired a new stake in MasTec in the 2nd quarter valued at approximately $284,000. Algert Global LLC lifted its stake in MasTec by 255.6% in the 2nd quarter. Algert Global LLC now owns 49,707 shares of the construction company’s stock valued at $5,318,000 after acquiring an additional 35,727 shares in the last quarter. Finally, Shellback Capital LP acquired a new position in MasTec during the second quarter worth $8,014,000. Institutional investors own 78.10% of the company’s stock.
MasTec Company Profile
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.
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