MasTec (NYSE:MTZ) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of MasTec (NYSE:MTZ) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other research firms have also commented on MTZ. Robert W. Baird dropped their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Wolfe Research began coverage on shares of MasTec in a research note on Monday, March 31st. They issued a “peer perform” rating on the stock. KeyCorp raised their price objective on shares of MasTec from $140.00 to $163.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Barclays raised 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. Finally, Citigroup raised their price objective on shares of MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and a consensus target price of $162.06.

MasTec Trading Up 1.2%

NYSE:MTZ opened at $152.54 on Friday. MasTec has a 12 month low of $89.96 and a 12 month high of $166.95. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 136.19 and a beta of 1.71. 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’s 50 day moving average is $130.19 and its 200-day moving average is $135.30.

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

Insiders Place Their Bets

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The shares were 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 in the company, valued at $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently bought and sold shares of the business. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC boosted its stake in shares of 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 purchasing an additional 141 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock valued at $32,000 after purchasing an additional 263 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of MasTec in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.