MasTec, Inc. (MTZ) – What Are Researchers Saying About This Stock?

MasTec, Inc. (NYSE:MTZ) has received a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $347.80.

MTZ has been the subject of several research analyst reports. Mizuho set a $352.00 price target on shares of MasTec in a research report on Wednesday, October 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $274.00 price target on shares of MasTec in a research note on Thursday, October 22nd. UBS Group dropped their price objective on shares of MasTec from $453.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Citigroup reduced their target price on MasTec from $408.00 to $308.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Finally, Zacks Research downgraded shares of MasTec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 26th.

MasTec Trading Up 9.8%

NYSE:MTZ opened at $174.45 on Friday. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 23.54 and a beta of 1.91. MasTec has a 1-year low of $147.49 and a 1-year high of $441.43. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $208.10 and a 200 day simple moving average of $299.03.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.94 billion. MasTec had a return on equity of 17.89% and a net margin of 2.80%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.48 earnings per share. Sell-side analysts forecast that MasTec will post 8.79 earnings per share for the current year.

Insider Transactions at MasTec

In other news, CAO Timothy Love sold 366 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $198.52, for a total transaction of $72,658.32. Following the sale, the chief accounting officer directly owned 9,926 shares of the company’s stock, valued at $1,970,509.52. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several institutional investors have recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new position in MasTec during the 2nd quarter valued at $32,000. Bell Investment Advisors Inc bought a new position in MasTec during the second quarter valued at about $32,000. Ascentis Independent Advisors acquired a new position in MasTec during the 1st quarter worth approximately $30,000. GK Wealth Management LLC bought a new position in shares of MasTec in the 3rd quarter valued at $29,000. Finally, Solstein Capital LLC purchased a new position in shares of MasTec in the 2nd quarter worth about $58,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

About MasTec

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.