MasTec, Inc. (NYSE:MTZ) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MasTec, Inc. (NYSE:MTZ) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $160.14.

A number of research firms recently commented on MTZ. Stifel Nicolaus dropped 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. Citigroup raised their price objective on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Truist Financial raised their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Guggenheim initiated coverage on shares of MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th.

Institutional Trading of MasTec

Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. Pacer Advisors Inc. lifted its stake in shares of MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after purchasing an additional 895,227 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MasTec in the fourth quarter valued at about $59,910,000. First Trust Advisors LP lifted its stake in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after purchasing an additional 373,145 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after purchasing an additional 363,502 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in shares of MasTec in the fourth quarter valued at about $46,612,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 3.5 %

NYSE MTZ opened at $120.61 on Monday. 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 firm’s fifty day moving average price is $137.76 and its 200 day moving average price is $132.33. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 107.69 and a beta of 1.74. MasTec has a 12 month low of $82.29 and a 12 month high of $166.95.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, sell-side analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

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.