MasTec’s (MTZ) “Hold” Rating Reaffirmed at Truist Financial

Truist Financial reissued their hold rating on shares of MasTec (NYSE:MTZ) in a report issued on Monday morning, Benzinga reports. Truist Financial currently has a $109.00 target price on the construction company’s stock, up from their previous target price of $96.00.

Other equities research analysts have also recently issued research reports about the company. Barclays raised their target price on MasTec from $55.00 to $106.00 and gave the stock an overweight rating in a research note on Tuesday, March 5th. Craig Hallum raised MasTec from a hold rating to a buy rating and raised their target price for the stock from $50.00 to $96.00 in a research note on Monday, March 4th. The Goldman Sachs Group raised their price target on MasTec from $54.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, February 9th. UBS Group raised their price target on MasTec from $89.00 to $92.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Finally, Robert W. Baird raised their price target on MasTec from $89.00 to $110.00 and gave the stock a neutral rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, MasTec presently has an average rating of Moderate Buy and an average price target of $111.08.

MasTec Price Performance

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

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.20. The company 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%. Equities research analysts expect that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Trading of MasTec

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of MasTec in the 4th quarter valued at $37,000. Headlands Technologies LLC purchased a new position in shares of MasTec during the third quarter worth about $41,000. Itau Unibanco Holding S.A. purchased a new position in shares of MasTec during the third quarter worth about $43,000. CWM LLC grew its holdings in shares of MasTec by 59.4% during the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after purchasing an additional 312 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of MasTec by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after purchasing an additional 212 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.