MasTec (NYSE:MTZ) Earns “Buy” Rating from B. Riley

B. Riley reissued their buy rating on shares of MasTec (NYSE:MTZ) in a research report report published on Thursday, Benzinga reports. B. Riley currently has a $132.00 target price on the construction company’s stock.

MTZ has been the subject of several other research reports. Robert W. Baird boosted their price target on shares of MasTec from $89.00 to $110.00 and gave the stock a neutral rating in a research note on Monday, May 6th. KeyCorp lifted their price objective on shares of MasTec from $113.00 to $120.00 and gave the stock an overweight rating in a research report on Monday, May 13th. DA Davidson lifted their price objective on shares of MasTec from $100.00 to $120.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Barclays lifted their price objective on shares of MasTec from $106.00 to $130.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of MasTec from $88.00 to $109.00 and gave the stock a neutral rating in a research report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $116.23.

MasTec Stock Performance

NYSE:MTZ opened at $106.99 on Thursday. The company has a fifty day simple moving average of $104.85 and a two-hundred day simple moving average of $87.36. The company has a market cap of $8.50 billion, a price-to-earnings ratio of -764.21 and a beta of 1.67. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.33. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. As a group, equities analysts anticipate that MasTec will post 2.58 earnings per share for the current fiscal year.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $5,579,750. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.67, for a total transaction of $304,009.50. Following the transaction, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of 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. 21.30% of the stock is owned by corporate insiders.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently modified their holdings of the business. DMC Group LLC lifted its holdings in shares of MasTec by 5.5% in the first quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after purchasing an additional 147 shares in the last quarter. MONECO Advisors LLC lifted its holdings in shares of MasTec by 4.8% in the fourth quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock valued at $249,000 after purchasing an additional 150 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of MasTec by 0.8% in the first quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $2,476,000 after purchasing an additional 200 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of MasTec by 30.9% in the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after purchasing an additional 212 shares in the last quarter. Finally, Second Line Capital LLC lifted its holdings in shares of MasTec by 0.8% in the first quarter. Second Line Capital LLC now owns 30,026 shares of the construction company’s stock valued at $2,800,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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.