MasTec (NYSE:MTZ) Raised to “Hold” at StockNews.com

MasTec (NYSE:MTZ – Get a Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released Wednesday.

A number of other stock analysts have also recently commented on MTZ. Citigroup reduced its price target on shares of MasTec from $109.00 to $100.00 and set a “buy” rating on the stock in a Friday, July 22 research note. Craig Hallum raised his target price on shares of MasTec to $97.00 in a Monday, August 15 research note. Cowen raised its price target on MasTec shares from $120.00 to $125.00 and gave the company an “outperform” rating in a Monday, Aug. 8 research report. Robert W. Baird raised his price target on MasTec shares from $83.00 to $106.00 in a Monday, August 8 research note. Finally, Credit Suisse Group raised its price target on MasTec shares from $102.00 to $105.00 and gave the company an “outperform” rating in a Monday, Aug. 8 research note. One investment analyst gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.20.

Performance of MasTec shares

NYSE:MTZ shares opened at $69.04 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.55 and a debt ratio of 0.85. The company has a market capitalization of $5.22 billion, a price-earnings ratio of 30.41 and a beta of 1.30. The company’s 50-day moving average is $78.91 and its 200-day moving average is $78.10. MasTec has a 12-month low of $62.64 and a 12-month high of $104.21.

MasTec (NYSE:MTZ – Get Rating) last released its results on Thursday, August 4. The construction company reported EPS of $0.66 for the quarter, beating consensus analyst estimates of $0.65 by $0.01. The company posted revenue of $2.30 billion in the quarter, compared to $2.24 billion expected by analysts. MasTec had a net margin of 1.99% and a return on equity of 10.82%. MasTec’s revenue for the quarter increased by 17.3% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $1.23. Research analysts predict that MasTec will post EPS of 2.82 for the current year.

Institutional investors weigh in on MasTec

Several hedge funds and other institutional investors have recently increased or reduced their stakes in MTZ. Legacy Advisors LLC acquired a new stake in shares of MasTec during Q1 worth approximately $138,946,000. Nordea Investment Management AB increased its position in MasTec shares by 21.8% in the first quarter. Nordea Investment Management AB now owns 3,160,052 shares of the construction company worth $273,123,000 after buying an additional 565,274 shares last quarter. Vanguard Group Inc. increased its position in MasTec shares by 8.8% in the first quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company worth $480,724,000 after purchasing an additional 447,376 shares last quarter. Goldman Sachs Group Inc. increased its stake in MasTec by 43.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,285,284 shares of the construction company worth $111,948,000 after buying 390,531 additional shares in the last quarter. Finally, Invesco Ltd. increased its stake in MasTec by 125.3% during the first quarter. Invesco Ltd. now owns 700,891 shares of the construction company worth $61,049,000 after purchasing an additional 389,752 shares in the last quarter. Institutional investors and hedge funds hold 71.56% of the company’s shares.

About MasTec

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MasTec, Inc, an infrastructure construction company, provides engineering, construction, installation, maintenance and upgrade services for communications, power, utilities and other infrastructure, mainly in the United States and Canada. It operates through communications, clean energy and infrastructure, oil and gas, power distribution and others segments.

Further reading

Analyst Recommendations for MasTec (NYSE:MTZ)

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