MasTec, Inc. (NYSE:MTZ – Free Report) – DA Davidson issued their Q3 2023 earnings per share estimates for MasTec in a report issued on Tuesday, August 8th. DA Davidson analyst B. Thielman expects that the construction company will post earnings of $1.74 per share for the quarter. DA Davidson currently has a “Buy” rating and a $120.00 target price on the stock. The consensus estimate for MasTec’s current full-year earnings is $4.12 per share.
A number of other research firms also recently issued reports on MTZ. TD Cowen lowered their target price on MasTec from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, August 7th. Credit Suisse Group lifted their target price on MasTec from $118.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. B. Riley lowered their target price on MasTec from $138.00 to $129.00 in a research report on Monday, August 7th. StockNews.com downgraded MasTec from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Craig Hallum downgraded MasTec from a “buy” rating to a “hold” rating and lowered their price target for the stock from $113.00 to $98.00 in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.90.
MasTec Price Performance
NYSE:MTZ opened at $94.11 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.51 and a current ratio of 1.57. The stock’s 50-day simple moving average is $112.04 and its 200 day simple moving average is $100.17. The company has a market cap of $7.42 billion, a P/E ratio of -588.19 and a beta of 1.40. MasTec has a 52-week low of $62.36 and a 52-week high of $123.33.
Hedge Funds Weigh In On MasTec
Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in shares of MasTec by 92.5% in the second quarter. First Horizon Advisors Inc. now owns 256 shares of the construction company’s stock valued at $30,000 after buying an additional 123 shares during the period. Capital Analysts LLC bought a new stake in shares of MasTec in the fourth quarter valued at approximately $26,000. Pinebridge Investments L.P. bought a new stake in shares of MasTec in the fourth quarter valued at approximately $27,000. Exchange Traded Concepts LLC bought a new stake in shares of MasTec in the fourth quarter valued at approximately $27,000. Finally, Huntington National Bank boosted its stake in shares of MasTec by 54.5% in the fourth quarter. Huntington National Bank now owns 411 shares of the construction company’s stock valued at $35,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 69.80% 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.
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