Price Change to Note: What’s Propelling MasTec, Inc. to Increase So Much?

Price Change to Note: What's Propelling MasTec, Inc. to Increase So Much?

The stock of MasTec, Inc. (NYSE:MTZ) is a huge mover today! The stock increased 4.81% or $1.7 on November 23, hitting $37.05. About 801,474 shares traded hands or 0.44% up from the average. MasTec, Inc. (NYSE:MTZ) has risen 64.89% since April 22, 2016 and is uptrending. It has outperformed by 59.48% the S&P500.
The move comes after 7 months positive chart setup for the $3.02B company. It was reported on Nov, 24 by Barchart.com. We have $38.16 PT which if reached, will make NYSE:MTZ worth $90.60 million more.

Analysts await MasTec, Inc. (NYSE:MTZ) to report earnings on February, 23. They expect $0.50 EPS, up 177.78% or $0.32 from last year’s $0.18 per share. MTZ’s profit will be $40.76M for 18.53 P/E if the $0.50 EPS becomes a reality. After $0.78 actual EPS reported by MasTec, Inc. for the previous quarter, Wall Street now forecasts -35.90% negative EPS growth.

MasTec, Inc. (NYSE:MTZ) Ratings Coverage

Out of 9 analysts covering MasTec (NYSE:MTZ), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. MasTec has been the topic of 14 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Robert W. Baird initiated MasTec, Inc. (NYSE:MTZ) on Tuesday, August 25 with “Outperform” rating. FBR Capital maintained MasTec, Inc. (NYSE:MTZ) rating on Monday, August 3. FBR Capital has “Outperform” rating and $28 price target. The firm has “Neutral” rating given on Wednesday, November 16 by DA Davidson. The rating was initiated by Citigroup on Friday, November 13 with “Neutral”. Stifel Nicolaus maintained the stock with “Buy” rating in Monday, November 14 report. The rating was downgraded by Avondale to “Market Perform” on Friday, November 18. The firm has “Buy” rating given on Thursday, November 12 by Craig Hallum. As per Tuesday, August 4, the company rating was downgraded by Zacks. FBR Capital maintained it with “Outperform” rating and $26.0 target price in Tuesday, September 1 report. Stephens maintained the stock with “Buy” rating in Monday, September 21 report.

According to Zacks Investment Research, “MASTEC INC. is one of the largest providers of construction services to the telecommunications industry in the United States. The Company’s principal business consists of the installation and maintenance of aerial, underground and buried copper and fiber optic cable, underground conduit, manhole systems and relatessed construction for local telephone companies, including Regional Bell Operating Companies such as BellSouth Telecommunications, Inc., U.S. West, Inc. and SBC Communications, Inc., and non-Bell local telephone companies such as Sprint Corp., and GTE Corp.”

Insitutional Activity: The institutional sentiment increased to 1.1 in Q2 2016. Its up 0.14, from 0.96 in 2016Q1. The ratio increased, as 23 funds sold all MasTec, Inc. shares owned while 68 reduced positions. 35 funds bought stakes while 52 increased positions. They now own 57.23 million shares or 0.83% less from 57.71 million shares in 2016Q1.
Moreover, Springbok Limited Liability Co has 0.02% invested in MasTec, Inc. (NYSE:MTZ) for 6,100 shares. Aperio Group Lc holds 0% or 18,119 shares in its portfolio. Jpmorgan Chase & Co, a New York-based fund reported 607,636 shares. Blackrock Advsr Ltd Company accumulated 30,813 shares or 0% of the stock. Qs Investors Ltd Co last reported 51 shares in the company. First Republic Investment Mngmt holds 0% of its portfolio in MasTec, Inc. (NYSE:MTZ) for 23,544 shares. Nationwide Fund Advsr holds 0.01% of its portfolio in MasTec, Inc. (NYSE:MTZ) for 86,786 shares. Allianz Asset Mgmt Ag reported 866,376 shares or 0.01% of all its holdings. Walleye Trading Lc, a Minnesota-based fund reported 899 shares. Levin Strategies L P last reported 99,734 shares in the company. Moreover, Legal General Public Limited Com has 0% invested in MasTec, Inc. (NYSE:MTZ) for 71,695 shares. Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Kcg Holdings, a New Jersey-based fund reported 15,501 shares. Pier Cap Ltd Liability Corp last reported 0.51% of its portfolio in the stock. Bridgeway Mgmt Inc holds 168,050 shares or 0.06% of its portfolio.

Insider Transactions: Since November 14, 2016, the stock had 0 insider buys, and 1 insider sale for $352,760 net activity. $352,760 worth of MasTec, Inc. (NYSE:MTZ) was sold by Dwyer Robert J.

More news for MasTec, Inc. (NYSE:MTZ) were recently published by: Fool.com, which released: “MasTec, Inc. Stock Up 10% Today: Here’s Why” on November 10, 2016. Prnewswire.com‘s article titled: “MasTec Announces Third Quarter 2016 Results Above Expectations and Increases …” and published on November 03, 2016 is yet another important article.

MTZ Company Profile

MasTec, Inc., incorporated on April 8, 1998, is an infrastructure construction company. The Firm operates primarily across North America through a range of industries. The Company’s primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure. The Firm manages its activities under five operating divisions: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. The Firm offers its services primarily under the MasTec service mark and has activities across approximately 470 locations. It provides services under master service and other service agreements, which are generally multi-year agreements. It offers its service offerings in markets, including wireless services; natural gas, natural gas liquids and petroleum pipeline, and electrical transmission.

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