Analysts Offer Predictions for MasTec, Inc.’s Q1 2018 Earnings (MTZ)
MasTec, Inc. (NYSE:MTZ) – KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for MasTec in a note issued to investors on Wednesday. KeyCorp analyst T. Afzal expects that the construction company will post earnings of $0.17 per share for the quarter. KeyCorp also issued estimates for MasTec’s Q3 2018 earnings at $1.23 EPS and Q4 2018 earnings at $0.81 EPS.
A number of other equities research analysts have also issued reports on MTZ. Robert W. Baird upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $53.00 in a report on Monday, November 6th. Credit Suisse Group boosted their price target on shares of MasTec from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, November 6th. B. Riley restated a “buy” rating and set a $67.00 price target (up previously from $66.00) on shares of MasTec in a report on Tuesday, November 7th. ValuEngine lowered shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Barclays initiated coverage on shares of MasTec in a report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $61.01.
In related news, COO Robert E. Apple sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $55.07, for a total transaction of $1,376,750.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Cardenas Alberto De sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $49.55, for a total transaction of $743,250.00. Following the transaction, the executive vice president now directly owns 110,502 shares in the company, valued at $5,475,374.10. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock worth $3,374,000 over the last ninety days. 20.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in MasTec by 1.6% during the fourth quarter. BlackRock Inc. now owns 4,824,757 shares of the construction company’s stock valued at $236,171,000 after purchasing an additional 75,133 shares in the last quarter. Macquarie Group Ltd. grew its position in MasTec by 15.3% during the third quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock valued at $141,374,000 after purchasing an additional 404,076 shares in the last quarter. Wells Fargo & Company MN grew its position in MasTec by 47.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,186,072 shares of the construction company’s stock valued at $58,058,000 after purchasing an additional 380,880 shares in the last quarter. Glenmede Trust Co. NA grew its position in MasTec by 12.9% during the fourth quarter. Glenmede Trust Co. NA now owns 1,151,062 shares of the construction company’s stock valued at $56,343,000 after purchasing an additional 131,468 shares in the last quarter. Finally, Rothschild Asset Management Inc. grew its position in MasTec by 18.5% during the third quarter. Rothschild Asset Management Inc. now owns 943,843 shares of the construction company’s stock valued at $43,794,000 after purchasing an additional 147,017 shares in the last quarter. 74.36% of the stock is currently owned by hedge funds and other institutional investors.
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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