MasTec (NYSE:MTZ) Coverage Initiated by Analysts at JPMorgan Chase & Co.

by · The Markets Daily

JPMorgan Chase & Co. assumed coverage on shares of MasTec (NYSE:MTZ – Free Report) in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $153.00 price objective on the construction company’s stock.

Other analysts have also recently issued reports about the company. Citigroup upped their target price on MasTec from $118.00 to $122.00 and gave the company a buy rating in a research report on Monday, July 22nd. Stifel Nicolaus upped their price objective on MasTec from $120.00 to $121.00 and gave the company a buy rating in a research note on Monday, August 5th. Truist Financial reaffirmed a hold rating and set a $112.00 price objective (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. B. Riley upped their price objective on MasTec from $132.00 to $134.00 and gave the company a buy rating in a research note on Monday, August 5th. Finally, DA Davidson upped their price objective on MasTec from $120.00 to $125.00 and gave the company a buy rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $127.62.

Check Out Our Latest Analysis on MTZ

MasTec Trading Down 0.8 %

NYSE:MTZ opened at $126.75 on Monday. The stock has a 50-day simple moving average of $113.87 and a 200-day simple moving average of $106.01. The stock has a market cap of $10.07 billion, a P/E ratio of -905.36 and a beta of 1.70. MasTec has a 1 year low of $44.65 and a 1 year high of $130.22. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. As a group, analysts anticipate that MasTec will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,800 shares of company stock valued at $2,978,212. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in shares of MasTec by 42.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,630 shares of the construction company’s stock worth $570,000 after acquiring an additional 1,389 shares during the period. UMB Bank n.a. grew its holdings in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares during the last quarter. CWM LLC grew its holdings in MasTec by 225.7% during the 3rd quarter. CWM LLC now owns 13,333 shares of the construction company’s stock valued at $1,641,000 after buying an additional 9,239 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in MasTec by 17.7% during the 3rd quarter. Daymark Wealth Partners LLC now owns 4,246 shares of the construction company’s stock valued at $523,000 after buying an additional 640 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in MasTec by 39.9% during the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Company Profile

(Get Free Report)

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.

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