MasTec (NYSE:MTZ) Price Target Raised to $249.00

MasTec (NYSE:MTZ) had its price target raised by Robert W. Baird from $238.00 to $249.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of MasTec from $198.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Roth Capital upped their target price on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. DA Davidson set a $210.00 target price on shares of MasTec and gave the company a “buy” rating in a report on Monday, August 4th. Citigroup upped their price target on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group upped their price target on shares of MasTec from $195.00 to $227.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.44.

MasTec Stock Up 1.9%

Shares of MTZ stock opened at $199.17 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The firm’s 50-day moving average is $200.59 and its 200-day moving average is $176.45. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 58.93 and a beta of 1.82. MasTec has a 52-week low of $99.70 and a 52-week high of $224.03.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, October 30th. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.17. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.90 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. MasTec’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. Sell-side analysts predict that MasTec will post 3.44 EPS for the current year.

Insider Activity at MasTec

In related news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the completion of the sale, the chief accounting officer directly owned 9,757 shares in the company, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the sale, the chief operating officer directly owned 184,249 shares in the company, valued at $36,930,869.56. This represents a 5.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,929 shares of company stock worth $3,394,013. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Large investors have recently made changes to their positions in the company. Salomon & Ludwin LLC boosted its position in shares of MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $29,000. Parkside Financial Bank & Trust boosted its position in shares of MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after acquiring an additional 137 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $35,000. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds 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.