MasTec (NYSE:MTZ) Stock Rating Upgraded by Zacks Research

MasTec (NYSE:MTZ) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on MTZ. Robert W. Baird increased their price target on MasTec from $473.00 to $475.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. B. Riley Financial reiterated a “buy” rating on shares of MasTec in a research report on Monday, May 4th. Roth Capital reissued a “buy” rating and set a $450.00 target price on shares of MasTec in a research note on Monday, May 4th. Guggenheim boosted their price target on shares of MasTec from $480.00 to $518.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Cantor Fitzgerald upped their price target on shares of MasTec from $545.00 to $581.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, MasTec has an average rating of “Buy” and an average price target of $466.89.

MasTec Stock Performance

Shares of NYSE MTZ opened at $287.00 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $369.21 and a 200-day simple moving average of $332.92. The company has a market cap of $22.68 billion, a PE ratio of 50.26 and a beta of 1.77. MasTec has a 12-month low of $160.08 and a 12-month high of $441.43.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, April 30th. The construction company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.98 by $0.41. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.47 billion. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The firm’s revenue was up 34.5% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. On average, equities research analysts forecast that MasTec will post 9.18 EPS for the current year.

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total value of $2,412,605.00. Following the sale, the director directly owned 10,816 shares in the company, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the completion of the sale, the director owned 30,646 shares in the company, valued at approximately $12,779,382. This trade represents a 8.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 21.40% of the company’s stock.

Institutional Trading of MasTec

A number of hedge funds and other institutional investors have recently made changes to their positions in MTZ. Ascentis Independent Advisors bought a new stake in MasTec during the first quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in MasTec in the fourth quarter worth approximately $30,000. GHP Investment Advisors Inc. bought a new position in shares of MasTec in the first quarter valued at $65,000. Harbor Investment Advisory LLC increased its holdings in shares of MasTec by 486.1% in the second quarter. Harbor Investment Advisory LLC now owns 211 shares of the construction company’s stock valued at $88,000 after buying an additional 175 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of MasTec by 372.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company’s stock valued at $51,000 after acquiring an additional 186 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.