Guggenheim Reiterates Buy Rating for MasTec (NYSE:MTZ)

Guggenheim reissued their buy rating on shares of MasTec (NYSE:MTZ) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $195.00 price target on the construction company’s stock.

A number of other research analysts have also issued reports on MTZ. Barclays increased their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. B. Riley reaffirmed a “buy” rating and issued a $165.00 price target (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Robert W. Baird decreased their price objective 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. Piper Sandler started coverage on MasTec in a report on Tuesday, April 8th. They issued an “overweight” rating and a $134.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on MasTec from $175.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

MasTec Price Performance

Shares of NYSE MTZ opened at $145.21 on Monday. 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 company has a market cap of $11.46 billion, a PE ratio of 129.65 and a beta of 1.71. MasTec has a twelve month low of $89.96 and a twelve month high of $166.95. The business’s 50 day moving average price is $121.40 and its two-hundred day moving average price is $132.96.

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

Insider Activity

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.30% of the stock is owned by company insiders.

Institutional Trading of MasTec

Several hedge funds have recently modified their holdings of MTZ. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the third quarter worth $25,000. Ameliora Wealth Management Ltd. bought a new position in shares of MasTec during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in shares of MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after buying an additional 116 shares during the period. Colonial Trust Co SC increased its position in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock worth $32,000 after buying an additional 263 shares during the period. Institutional investors 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.