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 sent to investors on Monday morning, ValuEngine reports.

MTZ has been the subject of several other reports. B. Riley upped their target price on MasTec from $62.00 to $72.00 and gave the stock a buy rating in a research note on Monday, August 5th. Credit Suisse Group upped their target price on MasTec from $62.00 to $68.00 and gave the stock an outperform rating in a research note on Monday, August 5th. DA Davidson upped their target price on MasTec from $70.00 to $80.00 and gave the stock a buy rating in a research note on Monday. Deutsche Bank increased their price target on MasTec from $60.00 to $67.00 and gave the company a buy rating in a research note on Monday, August 5th. Finally, KeyCorp increased their price target on MasTec from $65.00 to $75.00 and gave the company an overweight rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. MasTec presently has a consensus rating of Buy and an average price target of $71.17.

NYSE MTZ traded down $0.14 on Monday, hitting $70.71. 809,958 shares of the company’s stock were exchanged, compared to its average volume of 842,081. The stock has a 50-day moving average of $65.89 and a 200-day moving average of $56.68. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.82. MasTec has a 52 week low of $37.24 and a 52 week high of $73.71. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 19.43 and a beta of 1.35.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, October 31st. The construction company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.14. MasTec had a return on equity of 24.39% and a net margin of 4.37%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts predict that MasTec will post 5.01 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lisanti Capital Growth LLC lifted its stake in shares of MasTec by 43.1% in the 3rd quarter. Lisanti Capital Growth LLC now owns 160,235 shares of the construction company’s stock valued at $10,404,000 after acquiring an additional 48,225 shares during the last quarter. D.A. Davidson & CO. raised its position in MasTec by 2.5% during the 3rd quarter. D.A. Davidson & CO. now owns 13,013 shares of the construction company’s stock worth $845,000 after purchasing an additional 313 shares during the last quarter. Putnam FL Investment Management Co. bought a new position in MasTec during the 3rd quarter worth $218,000. Boston Advisors LLC raised its position in MasTec by 71.7% during the 3rd quarter. Boston Advisors LLC now owns 33,614 shares of the construction company’s stock worth $2,183,000 after purchasing an additional 14,039 shares during the last quarter. Finally, Tygh Capital Management Inc. raised its position in MasTec by 106.0% during the 3rd quarter. Tygh Capital Management Inc. now owns 209,935 shares of the construction company’s stock worth $13,631,000 after purchasing an additional 108,009 shares during the last quarter. Institutional investors own 80.57% 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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

Read More: What is the Producer Price Index (PPI)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MasTec (NYSE:MTZ)

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.