Analysts Set MasTec, Inc. (NYSE:MTZ) PT at $162.06

MasTec, Inc. (NYSE:MTZ) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $162.69.

A number of equities research analysts have commented on MTZ shares. KeyCorp upped their price target on MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Barclays upped their price target on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Wolfe Research started coverage on MasTec in a research note on Monday, March 31st. They issued a “peer perform” rating on the stock. Piper Sandler boosted their price objective on MasTec from $134.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Jefferies Financial Group started coverage on MasTec in a research note on Friday, May 16th. They issued a “buy” rating and a $188.00 price objective on the stock.

MasTec Stock Performance

MTZ opened at $155.07 on Friday. MasTec has a 12-month low of $89.96 and a 12-month high of $166.95. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 138.46 and a beta of 1.71. The business has a 50 day moving average of $131.39 and a 200-day moving average of $135.57. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last released its quarterly earnings results 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. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) EPS. On average, equities research analysts expect that MasTec will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by insiders.

Institutional Trading of MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its position in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after acquiring an additional 116 shares during the period. Colonial Trust Co SC increased its position in shares of MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 141 shares during the period. Rothschild Investment LLC increased its position in shares of MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock worth $32,000 after acquiring an additional 263 shares during the period. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of MasTec during the first quarter worth approximately $35,000. 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.