DA Davidson Has Bullish Estimate for MasTec FY2024 Earnings

MasTec, Inc. (NYSE:MTZ) – Stock analysts at DA Davidson raised their FY2024 earnings per share estimates for MasTec in a research note issued on Monday, November 4th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $3.44 for the year, up from their previous estimate of $2.72. DA Davidson currently has a “Buy” rating and a $125.00 target price on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.69 per share. DA Davidson also issued estimates for MasTec’s Q4 2024 earnings at $1.21 EPS and FY2025 earnings at $5.34 EPS.

Several other equities research analysts have also recently weighed in on the stock. Craig Hallum increased their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. KeyCorp increased their target price on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and increased their target price for the company from $133.00 to $173.00 in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price for the company. Finally, Citigroup increased their target price on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Stock Up 3.0 %

NYSE MTZ opened at $136.65 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a 50-day simple moving average of $120.16 and a 200 day simple moving average of $110.75. MasTec has a twelve month low of $46.70 and a twelve month high of $139.39. The stock has a market cap of $10.83 billion, a PE ratio of 122.01 and a beta of 1.70.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,823 shares of company stock valued at $5,558,301. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several hedge funds have recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the second quarter valued at approximately $27,000. GAMMA Investing LLC increased its holdings in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec in the second quarter valued at approximately $40,000. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds 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.