MasTec, Inc. (NYSE:MTZ) Receives $127.62 Consensus Price Target from Brokerages

MasTec, Inc. (NYSE:MTZ) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $127.62.

A number of equities research analysts have weighed in on the stock. B. Riley boosted their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group boosted their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their target price on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp boosted their target price 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. Finally, JPMorgan Chase & Co. started coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company.

MasTec Price Performance

Shares of NYSE MTZ opened at $127.39 on Friday. MasTec has a twelve month low of $44.65 and a twelve month high of $130.22. The firm has a market cap of $10.12 billion, a P/E ratio of -909.93 and a beta of 1.70. The company has a 50 day moving average of $114.37 and a 200 day moving average of $106.44. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. As a group, research analysts expect that MasTec will post 2.69 EPS for the current fiscal year.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. UMB Bank n.a. grew its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares in the last quarter. Blue Trust Inc. grew its stake in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after acquiring an additional 138 shares in the last quarter. GAMMA Investing LLC grew its stake in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares in the last quarter. DMC Group LLC grew its stake in MasTec by 5.5% in the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after acquiring an additional 147 shares in the last quarter. Finally, MONECO Advisors LLC grew its stake in MasTec by 4.8% in the 4th quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after acquiring an additional 150 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.