Jefferies Financial Group Begins Coverage on MasTec (NYSE:MTZ)

Investment analysts at Jefferies Financial Group started coverage on shares of MasTec (NYSE:MTZ) in a research note issued to investors on Friday, MarketBeat reports. The firm set a “buy” rating and a $188.00 price target on the construction company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 19.14% from the company’s previous close.

MTZ has been the subject of a number of other reports. Wolfe Research initiated coverage on shares of MasTec in a research note on Monday, March 31st. They set a “peer perform” rating for the company. Barclays increased their price objective on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Piper Sandler increased their price objective on shares of MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. B. Riley restated a “buy” rating and set a $165.00 price objective (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus increased their price objective on shares of MasTec from $143.00 to $171.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.06.

MasTec Price Performance

MTZ stock opened at $157.80 on Friday. The stock has a 50-day moving average price of $126.20 and a two-hundred day moving average price of $134.51. The stock has a market cap of $12.45 billion, a PE ratio of 140.89 and a beta of 1.71. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a 1 year low of $89.96 and a 1 year high of $166.95.

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

Insider Activity at MasTec

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

Institutional Investors Weigh In On MasTec

Several hedge funds have recently bought and sold shares of the stock. United Services Automobile Association acquired a new stake in MasTec during the first quarter worth approximately $467,000. First Dallas Securities Inc. lifted its position in MasTec by 16.4% during the first quarter. First Dallas Securities Inc. now owns 8,850 shares of the construction company’s stock worth $1,033,000 after acquiring an additional 1,250 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of MasTec by 163.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock valued at $121,843,000 after buying an additional 648,184 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MasTec in the first quarter valued at approximately $903,000. Finally, Temasek Holdings Private Ltd raised its position in shares of MasTec by 1,181.1% in the first quarter. Temasek Holdings Private Ltd now owns 131,810 shares of the construction company’s stock valued at $15,384,000 after buying an additional 121,521 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

About MasTec

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.