MasTec (NYSE:MTZ) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of MasTec (NYSE:MTZ) from a neutral rating to an outperform rating in a report released on Monday morning, MarketBeat reports. The brokerage currently has $210.00 price target on the construction company’s stock.

A number of other brokerages have also recently weighed in on MTZ. Roth Capital initiated coverage on MasTec in a report on Tuesday, July 1st. They issued a “buy” rating and a $210.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on MasTec from $180.00 to $214.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Barclays reiterated an “overweight” rating and set a $200.00 target price (up previously from $145.00) on shares of MasTec in a report on Monday, July 21st. Stifel Nicolaus raised their price target on shares of MasTec from $171.00 to $181.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Finally, Truist Financial lifted their price target on shares of MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, MasTec presently has a consensus rating of “Buy” and a consensus price target of $193.24.

MasTec Price Performance

MTZ opened at $182.91 on Monday. MasTec has a 1 year low of $96.01 and a 1 year high of $194.00. The company’s 50 day simple moving average is $170.52 and its 200 day simple moving average is $145.62. The stock has a market capitalization of $14.43 billion, a PE ratio of 54.12 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. MasTec’s revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. As a group, sell-side analysts expect that MasTec will post 3.44 EPS for the current year.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director directly owned 39,782 shares in the company, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chief operating officer directly owned 194,249 shares of the company’s stock, valued at $33,993,575. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Institutional investors have recently made changes to their positions in the company. Colonial Trust Co SC increased its stake in MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of MasTec during the 2nd quarter valued at about $35,000. Rothschild Investment LLC raised its stake in MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock worth $32,000 after acquiring an additional 263 shares during the period. Farther Finance Advisors LLC lifted its holdings in MasTec by 228.6% in the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock worth $47,000 after acquiring an additional 192 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in MasTec in the second quarter valued at approximately $49,000. 78.10% of the stock is currently owned by institutional investors.

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.