MasTec (NYSE:MTZ) Raised to “Strong-Buy” at Wall Street Zen

MasTec (NYSE:MTZ) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on MasTec from $171.00 to $181.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. KeyCorp increased their price objective on MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. B. Riley reiterated a “buy” rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Robert W. Baird decreased their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Barclays lifted their price objective on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $166.75.

MasTec Trading Down 2.4%

Shares of NYSE:MTZ opened at $158.44 on Monday. MasTec has a 52-week low of $89.96 and a 52-week high of $166.95. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 141.47 and a beta of 1.75. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $138.27 and a 200-day moving average price of $136.71.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the firm posted ($0.13) EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts predict that MasTec will post 3.44 EPS for the current year.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director now directly owns 39,782 shares of the company’s stock, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. New York State Teachers Retirement System boosted its stake in shares of MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after buying an additional 5,750 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of MasTec by 0.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock valued at $1,883,000 after buying an additional 105 shares during the period. Truist Financial Corp acquired a new stake in MasTec during the fourth quarter valued at $239,000. Envestnet Asset Management Inc. boosted its position in MasTec by 37.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 34,593 shares of the construction company’s stock valued at $4,710,000 after purchasing an additional 9,434 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in MasTec by 16.7% during the fourth quarter. Stifel Financial Corp now owns 11,788 shares of the construction company’s stock valued at $1,605,000 after purchasing an additional 1,683 shares during 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.