MasTec (NYSE:MTZ) Rating Lowered to “Buy” at Wall Street Zen

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

Several other equities analysts also recently weighed in on MTZ. Robert W. Baird cut their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Citigroup increased their price objective on shares of MasTec from $152.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, May 5th. KeyCorp lifted 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. Piper Sandler boosted their target price 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. Finally, Truist Financial upped their price target on MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.69.

MasTec Trading Up 0.4%

Shares of NYSE MTZ opened at $156.50 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market cap of $12.35 billion, a PE ratio of 139.73 and a beta of 1.71. The firm’s 50 day moving average price is $133.10 and its 200-day moving average price is $135.87. MasTec has a 52-week low of $89.96 and a 52-week high of $166.95.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. The company 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 firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.13) EPS. On average, equities research analysts expect that MasTec will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value 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 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 owned by insiders.

Hedge Funds Weigh In On MasTec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Rothschild Investment LLC increased its stake in MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock worth $32,000 after acquiring an additional 263 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in MasTec during the first quarter worth about $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.