MasTec’s (MTZ) “Buy” Rating Reiterated at Roth Capital

Roth Capital restated their buy rating on shares of MasTec (NYSE:MTZ) in a research note released on Monday,Benzinga reports. They currently have a $380.00 price target on the construction company’s stock, down from their previous price target of $500.00.

Several other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald lowered their price objective on MasTec from $348.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial reissued a “buy” rating and set a $332.00 target price (down from $380.00) on shares of MasTec in a report on Monday. Piper Sandler decreased their target price on MasTec from $321.00 to $313.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. Weiss Ratings upgraded MasTec from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on MasTec from $369.00 to $303.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Nineteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average target price of $347.80.

MasTec Stock Performance

MTZ opened at $167.96 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 0.95. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 27.44 and a beta of 1.91. MasTec has a 52-week low of $164.21 and a 52-week high of $441.43. The firm’s fifty day simple moving average is $211.44 and its two-hundred day simple moving average is $299.77.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, October 29th. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.94 billion. MasTec had a net margin of 2.80% and a return on equity of 17.89%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.48 earnings per share. Equities analysts anticipate that MasTec will post 8.84 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In related news, CAO Timothy Love sold 366 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $198.52, for a total transaction of $72,658.32. Following the transaction, the chief accounting officer directly owned 9,926 shares in the company, valued at approximately $1,970,509.52. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 21.40% of the company’s stock.

Institutional Trading of MasTec

Several large investors have recently bought and sold shares of MTZ. Transamerica Financial Advisors LLC purchased a new stake in MasTec in the 2nd quarter valued at about $32,000. Bell Investment Advisors Inc purchased a new position in MasTec during the second quarter worth about $32,000. Ascentis Independent Advisors purchased a new position in MasTec during the first quarter worth about $30,000. GK Wealth Management LLC purchased a new position in MasTec during the third quarter worth about $29,000. Finally, Solstein Capital LLC acquired a new stake in shares of MasTec during the second quarter valued at about $58,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.