MasTec, Inc. (NYSE:MTZ – Get Rating) has been given an average rating of “Moderate Buy” by the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $106.73.
A number of equities analysts have weighed in on MTZ shares. Craig Hallum decreased their target price on shares of MasTec from $108.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 26th. DA Davidson reduced their price target on shares of MasTec from $120.00 to $105.00 in a research report on Monday, May 9th. UBS Group reduced their price target on shares of MasTec from $116.00 to $100.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Citigroup reduced their price target on shares of MasTec from $109.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Finally, Cowen raised their price target on shares of MasTec from $110.00 to $120.00 in a research report on Thursday, May 26th.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its stake in shares of MasTec by 550.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,301 shares of the construction company’s stock worth $200,000 after acquiring an additional 1,947 shares during the last quarter. UMB Bank N A MO purchased a new position in shares of MasTec during the 4th quarter valued at $30,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MasTec by 9.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,416 shares of the construction company’s stock valued at $1,792,000 after buying an additional 1,631 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of MasTec by 5.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 30,435 shares of the construction company’s stock valued at $2,809,000 after buying an additional 1,615 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MasTec by 19.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 443,586 shares of the construction company’s stock valued at $40,934,000 after buying an additional 71,731 shares in the last quarter. Hedge funds and other institutional investors own 68.44% of the company’s stock.
MasTec Price Performance
MasTec (NYSE:MTZ – Get Rating) last announced its earnings results on Thursday, August 4th. The construction company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts expect that MasTec will post 2.74 EPS for the current fiscal year.
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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.
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