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

MasTec (NYSE:MTZ) had its target price boosted by DA Davidson from $120.00 to $125.00 in a research note issued to investors on Monday morning, Benzinga reports. DA Davidson currently has a buy rating on the construction company’s stock. DA Davidson also issued estimates for MasTec’s Q3 2024 earnings at $1.15 EPS, FY2024 earnings at $2.67 EPS and FY2025 earnings at $4.26 EPS.

A number of other research analysts have also recently issued reports on the stock. B. Riley lifted their price target on shares of MasTec from $132.00 to $134.00 and gave the company a buy rating in a research report on Monday. Citigroup raised their price objective on shares of MasTec from $118.00 to $122.00 and gave the company a buy rating in a research note on Monday, July 22nd. Truist Financial restated a hold rating and set a $112.00 price objective (up from $109.00) on shares of MasTec in a research note on Monday. The Goldman Sachs Group raised their price objective on shares of MasTec from $88.00 to $109.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Finally, Barclays raised their price objective on shares of MasTec from $106.00 to $130.00 and gave the company an overweight rating in a research note on Monday, May 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $117.50.

MasTec Trading Up 3.9 %

Shares of NYSE MTZ opened at $108.35 on Monday. MasTec has a 1 year low of $44.65 and a 1 year high of $113.12. The stock has a market cap of $8.61 billion, a P/E ratio of -773.93 and a beta of 1.65. The firm has a 50-day moving average of $106.75 and a 200 day moving average of $93.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27.

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

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 2,000 shares of MasTec 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction that occurred on 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 approximately $1,137,742.22. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in shares of MasTec by 169.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,703 shares of the construction company’s stock valued at $2,322,000 after purchasing an additional 13,656 shares during the last quarter. TradeLink Capital LLC bought a new position in shares of MasTec during the 2nd quarter valued at about $303,000. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec during the 2nd quarter valued at about $40,000. American Century Companies Inc. boosted its holdings in shares of MasTec by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 15,557 shares of the construction company’s stock valued at $1,664,000 after purchasing an additional 1,777 shares during the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in shares of MasTec during the 2nd quarter valued at about $302,000. Institutional investors 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.