Power, Industrial AG and renewable energy projects in the Dakotas account for a hefty percentage of Wanzek’s backlog.
When Florida-based Mastec Inc., bought Fargo’s Wanzek construction for $200 million in 2008, it became a major player in energy construction. The company is an interesting play for investors looking for entries into North Dakota’s hot construction sector, where opportunities in the public market are few.
The stock has been highly volatile over 12 months, off almost $16 since March. It’s been on an upswing in October, however, up 7.4 percent on Oct. 31 at $28. 42. Several analysts including Barclay’s and BB & T have target prices for the stock between $34 and $37. That could be a nice ride to be a part of, if Mastec got into that range by year’s end. Keep an eye on new contract awards, which could help boost the company’s share price by the New Year.
MasTec (NYSE:MTZ) posted its quarterly earnings results on Thursday. The company reported $0.56 earnings per share for the quarter, with revenue of $1.27 billion for the quarter.
Wanzek construction workers onsite at a combined heat and power project in Spiritwood, N.D.
The stock has a 50-day moving average of $28.47 and a 200-day moving average of $32.01. The company has a market cap of $2.165 billion and a P/E ratio of 16.89.
For a complete list of Wanzek/Mastec projects in the Tristate area, go to– http://wanzek.com/en/projects