MasTec (NYSE:MTZ) Given New $125.00 Price Target at DA Davidson

MasTec (NYSE:MTZ) had its price target lifted by DA Davidson from $120.00 to $125.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other brokerages have also issued reports on MTZ. Craig Hallum increased their price target on MasTec from $96.00 to $125.00 and gave the company a buy rating in a research note on Monday, May 6th. B. Riley increased their price target on MasTec from $132.00 to $134.00 and gave the company a buy rating in a research note on Monday. The Goldman Sachs Group increased their price target on MasTec from $88.00 to $109.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Citigroup increased their price target on MasTec from $118.00 to $122.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, Truist Financial reaffirmed a hold rating and set a $112.00 price target (up from $109.00) on shares of MasTec in a research note on Monday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $118.46.

MasTec Stock Performance

Shares of MasTec stock traded up $3.87 on Monday, reaching $105.34. 869,836 shares of the company were exchanged, compared to its average volume of 890,044. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The company’s 50-day moving average is $107.24 and its two-hundred day moving average is $93.17. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of -724.71 and a beta of 1.65. MasTec has a 1-year low of $44.65 and a 1-year high of $113.12.

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

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at $5,579,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Javier Alberto Palomarez sold 2,850 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 50,725 shares in the company, valued at $5,579,750. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its position in MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after buying an additional 502,039 shares in the last quarter. Vontobel Holding Ltd. grew its position in MasTec by 16.2% during the fourth quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock worth $78,454,000 after buying an additional 144,180 shares in the last quarter. Pinebridge Investments L.P. grew its position in MasTec by 25.6% during the fourth quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock worth $8,004,000 after buying an additional 21,564 shares in the last quarter. 1492 Capital Management LLC acquired a new stake in MasTec during the fourth quarter worth about $1,059,000. Finally, The Manufacturers Life Insurance Company grew its position in MasTec by 5.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock worth $25,975,000 after buying an additional 18,402 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.