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

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

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group assumed coverage on MasTec in a research note on Friday, May 16th. They issued a “buy” rating and a $188.00 target price on the stock. Stifel Nicolaus increased their price objective on shares of MasTec from $171.00 to $181.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Piper Sandler lifted their price objective on shares of MasTec from $134.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Guggenheim restated a “buy” rating and issued a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Finally, Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $166.75.

MasTec Price Performance

MTZ opened at $162.73 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’s 50-day moving average price is $139.40 and its 200 day moving average price is $136.89. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The firm has a market cap of $12.84 billion, a price-to-earnings ratio of 145.29 and a beta of 1.75.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the firm earned ($0.13) EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that MasTec will post 3.44 earnings per share for the current year.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction dated 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 owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This trade represents a 9.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate 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 the company. EverSource Wealth Advisors LLC raised its stake in MasTec by 181.3% during 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 during the period. Colonial Trust Co SC raised its position in MasTec by 335.7% during the fourth 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 during the period. Rothschild Investment LLC increased its holdings 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 during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of MasTec in the first quarter worth approximately $35,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after purchasing an additional 128 shares in 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.