TD Cowen Issues Positive Forecast for MasTec (NYSE:MTZ) Stock Price

MasTec (NYSE:MTZ) had its price target upped by TD Cowen from $175.00 to $195.00 in a research report report published on Monday, Marketbeat reports. TD Cowen currently has a buy rating on the construction company’s stock.

Several other research analysts have also recently issued reports on the company. Robert W. Baird raised MasTec from a “neutral” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Monday. KeyCorp reissued an “overweight” rating and set a $196.00 price target (up from $171.00) on shares of MasTec in a report on Wednesday, July 16th. Wall Street Zen raised MasTec from a “buy” rating to a “strong-buy” rating in a report on Saturday. Piper Sandler raised their price target on MasTec from $134.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Citigroup raised their price target on MasTec from $192.00 to $220.00 and gave the company a “buy” rating in a report on Monday, July 28th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $191.76.

MasTec Stock Performance

MTZ stock opened at $177.88 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 52.63 and a beta of 1.83. MasTec has a 1 year low of $89.96 and a 1 year high of $194.00. The stock’s fifty day moving average is $169.52 and its two-hundred day moving average is $145.14.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. On average, research analysts predict that MasTec will post 3.44 EPS for the current year.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director owned 39,782 shares in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the 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 completion of the transaction, the chief operating officer owned 194,249 shares of the company’s stock, valued at $33,993,575. This trade represents a 4.90% decrease in their position. 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

Hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV boosted its position in shares of MasTec by 10.6% in the 1st quarter. KBC Group NV now owns 2,773 shares of the construction company’s stock valued at $324,000 after purchasing an additional 266 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of MasTec by 37.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company’s stock valued at $1,915,000 after purchasing an additional 4,469 shares during the period. GAMMA Investing LLC boosted its position in shares of MasTec by 43.6% in the 1st quarter. GAMMA Investing LLC now owns 915 shares of the construction company’s stock valued at $107,000 after purchasing an additional 278 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of MasTec by 33.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company’s stock valued at $263,000 after purchasing an additional 565 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of MasTec by 9.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company’s stock valued at $5,253,000 after purchasing an additional 4,031 shares during the period. Institutional investors and hedge funds 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.