MasTec (NYSE:MTZ) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities analysts have also recently issued reports on MTZ. Truist Financial upped their price objective on shares of MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Guggenheim reiterated a “buy” rating and set a $195.00 price target on shares of MasTec in a report on Monday, May 5th. B. Riley reiterated a “buy” rating and issued a $165.00 price target (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Wolfe Research assumed coverage on MasTec in a report on Monday, March 31st. They set a “peer perform” rating on the stock. Finally, Citigroup upped their target price on MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $166.75.

MasTec Trading Down 0.6%

Shares of MTZ stock opened at $162.66 on Monday. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The stock’s fifty day moving average price is $137.34 and its two-hundred day moving average price is $136.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market cap of $12.83 billion, a PE ratio of 145.23 and a beta of 1.75.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company earned ($0.13) EPS. MasTec’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts predict that MasTec will post 3.44 EPS for the current fiscal year.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director now directly owns 39,782 shares of the company’s stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction 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. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MTZ. Goldman Sachs Group Inc. grew its stake in MasTec by 163.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock worth $121,843,000 after purchasing an additional 648,184 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of MasTec during the 4th quarter worth approximately $59,910,000. First Trust Advisors LP grew its position in shares of MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after buying an additional 373,145 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new position in shares of MasTec during the 4th quarter valued at $46,612,000. 78.10% of the stock is 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.