MasTec (NYSE:MTZ) Lowered to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of MasTec (NYSE:MTZ) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other brokerages also recently commented on MTZ. Stifel Nicolaus boosted their target price on shares of MasTec from $74.00 to $79.00 in a research note on Wednesday, November 20th. Craig Hallum lifted their price target on MasTec from $69.00 to $76.00 and gave the stock a buy rating in a report on Monday, August 5th. B. Riley upped their price objective on MasTec from $62.00 to $72.00 and gave the stock a buy rating in a research report on Monday, August 5th. Credit Suisse Group increased their price objective on MasTec from $62.00 to $68.00 and gave the company an outperform rating in a report on Monday, August 5th. Finally, KeyCorp raised their target price on MasTec from $65.00 to $75.00 and gave the stock an overweight rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $70.25.

NYSE:MTZ opened at $63.57 on Tuesday. The firm has a market cap of $5.06 billion, a PE ratio of 17.46 and a beta of 1.40. The stock has a fifty day moving average price of $67.79 and a 200 day moving average price of $58.75. MasTec has a 12-month low of $37.24 and a 12-month high of $73.71. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.82.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.14. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.14 billion. MasTec had a return on equity of 24.39% and a net margin of 4.37%. MasTec’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 EPS. Equities analysts forecast that MasTec will post 5.01 EPS for the current year.

In related news, Director Ernst N. Csiszar sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $64.53, for a total value of $193,590.00. Following the transaction, the director now owns 25,564 shares in the company, valued at approximately $1,649,644.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Dwyer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $70.54, for a total value of $352,700.00. Following the completion of the transaction, the director now owns 19,461 shares in the company, valued at approximately $1,372,778.94. The disclosure for this sale can be found here. 22.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. NEXT Financial Group Inc increased its holdings in shares of MasTec by 137.2% in the second quarter. NEXT Financial Group Inc now owns 3,465 shares of the construction company’s stock valued at $179,000 after purchasing an additional 2,004 shares during the period. New York State Teachers Retirement System grew its position in MasTec by 67.1% in the 2nd quarter. New York State Teachers Retirement System now owns 14,694 shares of the construction company’s stock valued at $757,000 after buying an additional 5,900 shares during the last quarter. Arizona State Retirement System grew its position in MasTec by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 44,844 shares of the construction company’s stock valued at $2,311,000 after buying an additional 624 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in MasTec in the 2nd quarter valued at $159,000. Finally, SG Americas Securities LLC increased its stake in MasTec by 4.9% in the 2nd quarter. SG Americas Securities LLC now owns 93,136 shares of the construction company’s stock valued at $4,799,000 after buying an additional 4,385 shares during the period. 79.08% of the stock is 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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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