MasTec (NYSE:MTZ) Upgraded by Robert W. Baird to Outperform Rating

Robert W. Baird upgraded shares of MasTec (NYSE:MTZ) from a neutral rating to an outperform rating in a research report released on Monday, MarketBeat.com reports. Robert W. Baird currently has $210.00 price target on the construction company’s stock.

A number of other analysts have also recently weighed in on the stock. KeyCorp reissued an “overweight” rating and set a $196.00 price objective (up previously from $171.00) on shares of MasTec in a report on Wednesday, July 16th. Guggenheim restated a “buy” rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Jefferies Financial Group started coverage on shares of MasTec in a research report on Friday, May 16th. They set a “buy” rating and a $188.00 target price on the stock. Stifel Nicolaus raised their target price on shares of MasTec from $171.00 to $181.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Finally, Roth Capital started coverage on shares of MasTec in a research report on Tuesday, July 1st. They set a “buy” rating and a $210.00 target price on the stock. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Buy” and a consensus target price of $191.76.

MasTec Stock Up 2.2%

MTZ stock opened at $177.88 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. MasTec has a twelve month low of $89.96 and a twelve month high of $194.00. The company’s 50 day moving average is $169.52 and its two-hundred day moving average is $145.14. The stock has a market cap of $14.03 billion, a P/E ratio of 52.63 and a beta of 1.83.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the chief operating officer directly owned 194,249 shares in the company, valued at $33,993,575. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director owned 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV lifted its holdings in MasTec by 10.6% in the first quarter. KBC Group NV now owns 2,773 shares of the construction company’s stock valued at $324,000 after acquiring an additional 266 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in MasTec by 37.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company’s stock valued at $1,915,000 after acquiring an additional 4,469 shares during the period. GAMMA Investing LLC lifted its holdings in MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company’s stock valued at $107,000 after acquiring an additional 278 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in MasTec by 33.5% in the first quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company’s stock valued at $263,000 after acquiring an additional 565 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in shares of MasTec by 9.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company’s stock worth $5,253,000 after buying an additional 4,031 shares during the last quarter. 78.10% of the stock is currently 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.