MasTec (NYSE:MTZ – Get Free Report)‘s stock had its “hold” rating restated by Truist Financial in a note issued to investors on Monday, Benzinga reports. They currently have a $112.00 price target on the construction company’s stock, up from their previous price target of $109.00. Truist Financial’s target price suggests a potential upside of 16.97% from the stock’s current price.
Other research analysts have also issued research reports about the company. Citigroup raised their price objective on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Barclays increased their price target on shares of MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, May 6th. TD Cowen increased their price target on shares of MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 6th. StockNews.com raised shares of MasTec from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Finally, Stifel Nicolaus raised their price objective on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.92.
Check Out Our Latest Stock Report on MasTec
MasTec Price Performance
MTZ stock traded down $6.43 during trading on Monday, reaching $95.75. The company’s stock had a trading volume of 509,449 shares, compared to its average volume of 881,592. MasTec has a 1 year low of $44.65 and a 1 year high of $113.12. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $7.61 billion, a P/E ratio of -668.36 and a beta of 1.65. The company’s fifty day moving average is $107.24 and its 200-day moving average is $93.17.
MasTec (NYSE:MTZ – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. MasTec had a return on equity of 6.44% and a net margin of 0.06%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. On average, research analysts expect that MasTec will post 2.59 earnings per share for the current fiscal year.
Insider Activity at MasTec
In other MasTec news, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at $5,579,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the director now directly owns 50,725 shares of the company’s stock, valued at $5,579,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.67, for a total transaction of $304,009.50. Following the transaction, the director now owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.
Institutional Trading of MasTec
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Electron Capital Partners LLC increased its stake in shares of MasTec by 16.1% during the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after purchasing an additional 238,874 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after purchasing an additional 312,991 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of MasTec by 16.2% during the fourth quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock worth $78,454,000 after purchasing an additional 144,180 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after purchasing an additional 502,039 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of MasTec during the fourth quarter worth about $46,970,000. 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.
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Source: defenseworld.net
