Barclays reiterated their buy rating on shares of MasTec (NYSE:MTZ) in a research note published on Monday morning, AnalystRatings.com reports. They currently have a $60.00 target price on the construction company’s stock.
Several other brokerages also recently issued reports on MTZ. UBS Group decreased their target price on Mylan to $23.00 and set a neutral rating on the stock in a research note on Tuesday, May 28th. Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research note on Thursday, May 9th. ValuEngine downgraded Wolverine World Wide from a hold rating to a sell rating in a research note on Monday, May 20th. Finally, KeyCorp lifted their target price on PGT Innovations from $20.00 to $22.00 and gave the company an overweight rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $60.44.
MTZ stock opened at $49.46 on Monday. MasTec has a twelve month low of $37.24 and a twelve month high of $53.80. The company has a current ratio of 1.79, a quick ratio of 1.70 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.81 billion, a PE ratio of 13.59, a P/E/G ratio of 1.44 and a beta of 1.48. The company’s 50-day moving average is $49.70.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, May 2nd. The construction company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.19. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.43 billion. MasTec had a return on equity of 21.31% and a net margin of 3.93%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. As a group, equities analysts forecast that MasTec will post 4.4 earnings per share for the current year.
In related news, Director Robert J. Dwyer sold 10,000 shares of MasTec stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $51.66, for a total transaction of $516,600.00. Following the sale, the director now owns 23,587 shares of the company’s stock, valued at approximately $1,218,504.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.00% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of MasTec by 3,576.7% during the 1st quarter. FMR LLC now owns 1,999,733 shares of the construction company’s stock valued at $96,187,000 after purchasing an additional 1,945,344 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of MasTec by 113.4% during the 4th quarter. Bank of New York Mellon Corp now owns 755,954 shares of the construction company’s stock valued at $30,661,000 after purchasing an additional 401,654 shares during the last quarter. Deutsche Bank AG increased its position in shares of MasTec by 258.7% during the 4th quarter. Deutsche Bank AG now owns 505,434 shares of the construction company’s stock valued at $20,498,000 after purchasing an additional 364,512 shares during the last quarter. Norges Bank bought a new position in shares of MasTec during the 4th quarter valued at approximately $13,787,000. Finally, Principal Financial Group Inc. increased its position in shares of MasTec by 45.7% during the 4th quarter. Principal Financial Group Inc. now owns 867,383 shares of the construction company’s stock valued at $35,181,000 after purchasing an additional 272,022 shares during the last quarter. 85.48% of the stock is currently owned by institutional investors and hedge funds.
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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