MasTec (NYSE:MTZ) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of MasTec (NYSE:MTZ) from a sell rating to a hold rating in a research report report published on Monday, ValuEngine reports.

Several other brokerages have also recently weighed in on MTZ. Stifel Nicolaus set a $74.00 price target on shares of MasTec and gave the company a buy rating in a research report on Friday, October 25th. KeyCorp raised their price target on shares of MasTec from $65.00 to $75.00 and gave the company an overweight rating in a research report on Wednesday, October 23rd. B. Riley raised their price target on shares of MasTec from $62.00 to $72.00 and gave the company a buy rating in a research report on Monday, August 5th. Barclays raised their price target on shares of MasTec from $60.00 to $70.00 and gave the company an overweight rating in a research report on Wednesday, September 4th. Finally, Craig Hallum raised their price target on shares of MasTec from $69.00 to $76.00 and gave the company a buy rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $71.17.

NYSE MTZ traded down $0.14 during trading hours on Monday, hitting $70.71. The company’s stock had a trading volume of 809,958 shares, compared to its average volume of 842,081. MasTec has a 52 week low of $37.24 and a 52 week high of $73.71. The company has a market capitalization of $5.56 billion, a PE ratio of 19.43 and a beta of 1.35. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.82. The company’s 50-day simple moving average is $65.89 and its two-hundred day simple moving average is $56.68.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.14. MasTec had a net margin of 4.37% and a return on equity of 24.39%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts anticipate that MasTec will post 5.01 EPS for the current fiscal year.

In other MasTec news, Director Robert J. Dwyer sold 5,000 shares of MasTec stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $70.54, for a total transaction of $352,700.00. Following the transaction, the director now owns 19,461 shares of the company’s stock, valued at approximately $1,372,778.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernst N. Csiszar sold 3,000 shares of MasTec stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $64.53, for a total transaction of $193,590.00. Following the transaction, the director now directly owns 25,564 shares in the company, valued at approximately $1,649,644.92. The disclosure for this sale can be found here. 22.00% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. bought a new position in shares of MasTec during the 3rd quarter worth approximately $32,000. C M Bidwell & Associates Ltd. bought a new position in shares of MasTec during the 2nd quarter worth approximately $45,000. NumerixS Investment Technologies Inc bought a new position in shares of MasTec during the 2nd quarter worth approximately $70,000. Cerebellum GP LLC bought a new position in shares of MasTec during the 3rd quarter worth approximately $91,000. Finally, Endurance Wealth Management Inc. lifted its position in shares of MasTec by 136.8% during the 3rd quarter. Endurance Wealth Management Inc. now owns 1,421 shares of the construction company’s stock worth $92,000 after buying an additional 821 shares in the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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