Fintel reports that on November 5, 2024, Truist Securities upgraded their outlook for MasTec (NYSE:MTZ) from Hold to Buy.
Analyst Price Forecast Suggests 0.17% Upside
As of October 22, 2024, the average one-year price target for MasTec is $136.83/share. The forecasts range from a low of $116.15 to a high of $160.65. The average price target represents an increase of 0.17% from its latest reported closing price of $136.59 / share.
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The projected annual revenue for MasTec is 14,076MM, an increase of 15.56%. The projected annual non-GAAP EPS is 6.59.
What is the Fund Sentiment?
There are 841 funds or institutions reporting positions in MasTec. This is an increase of 66 owner(s) or 8.52% in the last quarter. Average portfolio weight of all funds dedicated to MTZ is 0.33%, an increase of 14.16%. Total shares owned by institutions increased in the last three months by 3.45% to 69,136K shares. 
The put/call ratio of MTZ is 1.10, indicating a bearish outlook.
What are Other Shareholders Doing?
Alliancebernstein holds 2,459K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 2,960K shares , representing a decrease of 20.34%. The firm decreased its portfolio allocation in MTZ by 19.22% over the last quarter.
Invesco holds 2,334K shares representing 2.99% ownership of the company. In its prior filing, the firm reported owning 2,276K shares , representing an increase of 2.49%. The firm decreased its portfolio allocation in MTZ by 89.80% over the last quarter.
Hill City Capital holds 2,130K shares representing 2.73% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,031K shares representing 2.61% ownership of the company. In its prior filing, the firm reported owning 1,985K shares , representing an increase of 2.27%. The firm increased its portfolio allocation in MTZ by 14.16% over the last quarter.
Nordea Investment Management Ab holds 1,986K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 2,513K shares , representing a decrease of 26.54%. The firm decreased its portfolio allocation in MTZ by 67.76% 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.
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