Fintel reports that on August 7, 2023, TD Cowen maintained coverage of Mastec (NYSE:MTZ) with a Outperform recommendation.
Analyst Price Forecast Suggests 34.74% Upside
As of August 2, 2023, the average one-year price target for Mastec is 129.54. The forecasts range from a low of 111.10 to a high of $144.90. The average price target represents an increase of 34.74% from its latest reported closing price of 96.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Mastec is 13,040MM, an increase of 18.75%. The projected annual non-GAAP EPS is 5.22.
What is the Fund Sentiment?
There are 769 funds or institutions reporting positions in Mastec. This is a decrease of 2 owner(s) or 0.26% in the last quarter. Average portfolio weight of all funds dedicated to MTZ is 0.40%, an increase of 11.45%. Total shares owned by institutions decreased in the last three months by 1.01% to 70,816K shares. 
The put/call ratio of MTZ is 0.99, indicating a bullish outlook.
What are Other Shareholders Doing?
Allspring Global Investments Holdings holds 3,641K shares representing 4.70% ownership of the company. In it's prior filing, the firm reported owning 3,376K shares, representing an increase of 7.27%. The firm increased its portfolio allocation in MTZ by 30.27% over the last quarter.
Nordea Investment Management Ab holds 2,979K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 3,051K shares, representing a decrease of 2.41%. The firm increased its portfolio allocation in MTZ by 14.29% over the last quarter.
WFMDX - Wells Fargo Special Mid Cap Value Fund Administrator Class holds 2,841K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 2,785K shares, representing an increase of 1.97%. The firm increased its portfolio allocation in MTZ by 9.75% over the last quarter.
Ameriprise Financial holds 1,919K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 1,794K shares, representing an increase of 6.53%. The firm decreased its portfolio allocation in MTZ by 79.10% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,829K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 1,904K shares, representing a decrease of 4.12%. The firm decreased its portfolio allocation in MTZ by 1.85% over the last quarter.
Mastec Background Information
(This description is provided by the company.)
MasTec, Inc. is a specialty contractor operating across a range of industries. The Company activities are the building, installation, maintenance, and upgrade of utility and communications infrastructure, including electrical utility transmission and distribution, wind farms, solar farms, renewable energy and natural gas infrastructure, wireless, and wireline.
Additional reading:
- MasTec Announces Second Quarter 2023 Financial Results with Record Revenue and Updates Guidance for the Year
- Mine Safety Disclosures.
- MasTec Announces First Quarter 2023 Financial Results with Record Backlog and Updates Guidance for the Year
- by and between MasTec, Inc. and Paul DiMarco
- Amended and Restated Employment Agreement, dated March 31, 2023, by and between MasTec, Inc. and George Pita
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
