BidaskClub Lowers MasTec, Inc. (NYSE:MTZ) to Buy
MasTec, Inc. (NYSE:MTZ) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday.
Several other research analysts have also commented on the stock. DA Davidson upgraded shares of MasTec from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.00 to $50.00 in a research note on Thursday, April 13th. Deutsche Bank AG restated a “hold” rating and set a $45.00 price target (up previously from $40.00) on shares of MasTec in a research note on Saturday, April 22nd. Zacks Investment Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Canaccord Genuity restated a “buy” rating and set a $52.00 price target on shares of MasTec in a research note on Friday, May 5th. Finally, FBR & Co restated an “outperform” rating and set a $57.00 price target (up previously from $50.00) on shares of MasTec in a research note on Monday, May 8th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. MasTec has a consensus rating of “Buy” and a consensus price target of $46.47.
Shares of MasTec (MTZ) traded down 1.277% during mid-day trading on Friday, hitting $40.575. 373,086 shares of the stock traded hands. The stock has a 50-day moving average of $45.19 and a 200-day moving average of $42.14. MasTec has a 52 week low of $26.75 and a 52 week high of $49.50. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 14.307 and a beta of 1.44.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 53.4% compared to the same quarter last year. Analysts anticipate that MasTec will post $2.74 EPS for the current year.
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In related news, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the transaction, the director now directly owns 37,545 shares in the company, valued at approximately $1,710,550.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Robert Campbell sold 12,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the completion of the transaction, the director now owns 67,082 shares in the company, valued at $3,018,690. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in MasTec by 12.1% in the first quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock worth $275,723,000 after buying an additional 743,879 shares during the last quarter. BlackRock Inc. raised its position in MasTec by 15,957.0% in the first quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock worth $207,953,000 after buying an additional 5,160,001 shares during the last quarter. Prudential Financial Inc. raised its position in MasTec by 126.7% in the second quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock worth $67,033,000 after buying an additional 829,650 shares during the last quarter. State Street Corp raised its position in MasTec by 3.0% in the first quarter. State Street Corp now owns 1,235,539 shares of the construction company’s stock worth $49,481,000 after buying an additional 36,274 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its position in MasTec by 7.8% in the second quarter. Rothschild Asset Management Inc. now owns 796,826 shares of the construction company’s stock worth $35,977,000 after buying an additional 57,463 shares during the last quarter. Institutional investors and hedge funds own 70.36% of the company’s stock.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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