MasTec (NYSE:MTZ) PT Raised to $134.00 at B. Riley

MasTec (NYSE:MTZ) had its price objective upped by investment analysts at B. Riley from $132.00 to $134.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. B. Riley’s price target indicates a potential upside of 33.03% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. DA Davidson upped their target price on MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Stifel Nicolaus lifted their target price on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday. Barclays raised their price objective on MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. TD Cowen upped their price objective on shares of MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Citigroup lifted their target price on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus target price of $118.08.

MasTec Price Performance

Shares of MTZ traded down $1.45 during trading hours on Monday, reaching $100.73. 965,192 shares of the company’s stock traded hands, compared to its average volume of 884,650. MasTec has a 12 month low of $44.65 and a 12 month high of $113.12. The firm’s 50 day simple moving average is $107.24 and its 200-day simple moving average is $93.17. The stock has a market cap of $8.00 billion, a PE ratio of -732.64 and a beta of 1.65. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. MasTec had a return on equity of 6.44% and a net margin of 0.06%. MasTec’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Equities analysts expect that MasTec will post 2.59 EPS for the current year.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the transaction, the director now owns 50,725 shares of the company’s stock, valued at $5,579,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the transaction, the director now directly owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the director now directly owns 50,725 shares in the company, valued at approximately $5,579,750. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MTZ. Northstar Advisory Group LLC acquired a new stake in shares of MasTec in the second quarter valued at about $448,000. Versor Investments LP acquired a new position in shares of MasTec in the 2nd quarter valued at $537,000. CIBC Asset Management Inc purchased a new stake in MasTec in the 2nd quarter valued at about $235,000. Natixis Advisors LLC acquired a new stake in shares of MasTec during the second quarter valued at about $1,256,000. Finally, Lisanti Capital Growth LLC purchased a new stake in MasTec in the second quarter valued at approximately $3,508,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

About MasTec

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.