MasTec (NYSE:MTZ) Stock Rating Reaffirmed by B. Riley

B. Riley reaffirmed their buy rating on shares of MasTec (NYSE:MTZ) in a report issued on Thursday morning, Benzinga reports. They currently have a $132.00 price target on the construction company’s stock.

MTZ has been the topic of several other research reports. Citigroup increased their target price on MasTec from $99.00 to $104.00 and gave the stock a buy rating in a report on Monday, April 22nd. KeyCorp increased their target price on MasTec from $113.00 to $120.00 and gave the stock an overweight rating in a report on Monday, May 13th. Stifel Nicolaus increased their target price on MasTec from $100.00 to $120.00 and gave the stock a buy rating in a report on Monday, May 6th. DA Davidson increased their target price on MasTec from $100.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group upped their price target on MasTec from $88.00 to $109.00 and gave the company a neutral rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $116.23.

MasTec Stock Down 2.1 %

Shares of MTZ stock opened at $106.99 on Thursday. MasTec has a 12 month low of $44.65 and a 12 month high of $123.33. The firm has a market cap of $8.50 billion, a PE ratio of -764.21 and a beta of 1.67. The stock has a 50 day moving average of $104.85 and a 200-day moving average of $87.47. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. On average, equities analysts predict that MasTec will post 2.58 EPS for the current year.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the sale, the director now owns 50,725 shares in the company, valued at approximately $5,579,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other MasTec news, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at approximately $5,579,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Javier Alberto Palomarez sold 2,850 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.67, for a total value of $304,009.50. Following the sale, the director now owns 10,666 shares in the company, valued at approximately $1,137,742.22. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MTZ. Citigroup Inc. increased its position in shares of MasTec by 9.1% during the third quarter. Citigroup Inc. now owns 10,058 shares of the construction company’s stock valued at $724,000 after acquiring an additional 838 shares during the last quarter. Hsbc Holdings PLC increased its position in MasTec by 769.6% in the third quarter. Hsbc Holdings PLC now owns 56,674 shares of the construction company’s stock worth $4,072,000 after buying an additional 50,157 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in MasTec in the third quarter worth $565,000. MQS Management LLC purchased a new stake in MasTec in the third quarter worth $221,000. Finally, Trexquant Investment LP purchased a new stake in MasTec in the third quarter worth $1,193,000. Institutional investors 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.