MasTec (NYSE:MTZ) Upgraded at StockNews.com

StockNews.com upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a report issued on Monday.

Several other brokerages have also commented on MTZ. Stifel Nicolaus upped their price objective on shares of MasTec from $100.00 to $120.00 and gave the stock a buy rating in a report on Monday. B. Riley raised their price objective on shares of MasTec from $104.00 to $120.00 and gave the stock a buy rating in a report on Monday. Barclays upped their target price on MasTec from $106.00 to $130.00 and gave the stock an overweight rating in a report on Monday. UBS Group raised their target price on MasTec from $89.00 to $92.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Robert W. Baird upped their price target on MasTec from $89.00 to $110.00 and gave the stock a neutral rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $111.08.

MasTec Stock Performance

MasTec stock opened at $105.17 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The firm has a market cap of $8.36 billion, a P/E ratio of -751.21 and a beta of 1.61. MasTec has a 1-year low of $44.65 and a 1-year high of $123.33. The firm has a 50-day moving average of $89.87 and a 200-day moving average of $73.92.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.20. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Sell-side analysts expect that MasTec will post 2.33 EPS for the current year.

Institutional Trading of MasTec

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of MasTec by 0.6% during the third quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after buying an additional 33,592 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after purchasing an additional 1,027,085 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of MasTec by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock worth $263,271,000 after purchasing an additional 17,369 shares during the last quarter. Electron Capital Partners LLC raised its stake in shares of MasTec by 16.1% in the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after purchasing an additional 238,874 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its holdings in shares of MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.