Analysts Set MasTec, Inc. (NYSE:MTZ) Target Price at $169.29

MasTec, Inc. (NYSE:MTZ) has received a consensus recommendation of “Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $169.29.

A number of analysts have recently weighed in on MTZ shares. Wall Street Zen lowered shares of MasTec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. Stifel Nicolaus upped their price target on shares of MasTec from $171.00 to $181.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Guggenheim reaffirmed a “buy” rating and issued a $195.00 price target on shares of MasTec in a research note on Monday, May 5th. The Goldman Sachs Group raised shares of MasTec from a “neutral” rating to a “buy” rating and upped their price target for the stock from $156.00 to $195.00 in a research note on Friday, June 6th. Finally, Citigroup upped their price target on shares of MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 5th.

MasTec Price Performance

Shares of NYSE:MTZ opened at $172.00 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $173.67. The firm has a 50-day simple moving average of $161.78 and a 200 day simple moving average of $141.70. The company has a market cap of $13.57 billion, a PE ratio of 63.24 and a beta of 1.75.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the firm earned ($0.13) EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that MasTec will post 3.44 EPS for the current year.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the director owned 39,782 shares of the company’s stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sheets Smith Wealth Management raised its holdings in MasTec by 0.6% in the 2nd quarter. Sheets Smith Wealth Management now owns 19,952 shares of the construction company’s stock valued at $3,400,000 after buying an additional 126 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in MasTec in the 2nd quarter valued at approximately $752,000. Oliver Luxxe Assets LLC raised its holdings in MasTec by 2.8% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 14,996 shares of the construction company’s stock valued at $2,556,000 after buying an additional 408 shares during the last quarter. IronOak Wealth LLC. bought a new position in MasTec in the 2nd quarter valued at approximately $1,575,000. Finally, GAMMA Investing LLC increased its position in MasTec by 37.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,262 shares of the construction company’s stock valued at $215,000 after purchasing an additional 347 shares during the period. 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.