MasTec (NYSE:MTZ) Coverage Initiated at Wolfe Research

Investment analysts at Wolfe Research began coverage on shares of MasTec (NYSE:MTZ) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “peer perform” rating on the construction company’s stock.

Other analysts have also issued research reports about the stock. Stifel Nicolaus cut their target price on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Truist Financial raised their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Guggenheim reaffirmed a “buy” rating and issued a $195.00 target price on shares of MasTec in a report on Tuesday, March 25th. JPMorgan Chase & Co. lifted their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, B. Riley restated a “buy” rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MasTec has an average rating of “Moderate Buy” and an average price target of $160.07.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $115.22 on Monday. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 102.87 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company’s 50 day simple moving average is $132.73 and its 200 day simple moving average is $133.63.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, research analysts predict that MasTec will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business’s 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 directly owns 23,000 shares of the company’s stock, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently added to or reduced their stakes in MTZ. New York State Teachers Retirement System grew its position in shares of MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after acquiring an additional 8,948 shares in the last quarter. Atom Investors LP grew its holdings in MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after purchasing an additional 55,363 shares during the period. Exchange Traded Concepts LLC increased its stake in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after purchasing an additional 13,241 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares during the period. 78.10% of the stock is currently owned by institutional investors.

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.