B. Riley Has Bullish Outlook for MasTec FY2024 Earnings

MasTec, Inc. (NYSE:MTZ) – Equities research analysts at B. Riley increased their FY2024 EPS estimates for MasTec in a research note issued to investors on Tuesday, November 5th. B. Riley analyst A. Rygiel 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. B. Riley has a “Buy” rating and a $166.00 price target on the stock. The consensus estimate for MasTec’s current full-year earnings is $2.69 per share. B. Riley also issued estimates for MasTec’s Q4 2024 earnings at $1.20 EPS and FY2025 earnings at $4.17 EPS.

MTZ has been the subject of a number of other reports. TD Cowen increased their price target on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Citigroup increased their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. DA Davidson lifted their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, KeyCorp raised their price target on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, MasTec has an average rating of “Moderate Buy” and an average price target of $148.62.

MasTec Stock Performance

MTZ opened at $144.85 on Friday. The firm has a market cap of $11.48 billion, a P/E ratio of 129.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a 50 day simple moving average of $122.03 and a two-hundred day simple moving average of $111.59. MasTec has a 1-year low of $47.02 and a 1-year high of $145.74.

Insiders Place Their Bets

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

Institutional Trading of MasTec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of MasTec by 15,067.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. purchased a new stake in shares of MasTec in the second quarter valued at about $79,494,000. Hood River Capital Management LLC grew its stake in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. AQR Capital Management LLC raised its stake in shares of MasTec by 3,439.7% during the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after purchasing an additional 255,088 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of MasTec by 205.4% during the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after buying an additional 190,320 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Company Profile

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.