Wall Street Zen Upgrades MasTec (NYSE:MTZ) to “Strong-Buy”

MasTec (NYSE:MTZ) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

MTZ has been the subject of a number of other research reports. B. Riley reiterated a “buy” rating and set a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Guggenheim reiterated a “buy” rating and issued a $195.00 price target on shares of MasTec in a report on Monday, May 5th. Citigroup raised their price target on shares of MasTec from $152.00 to $170.00 and gave the company a “buy” rating in a report on Monday, May 5th. Truist Financial raised their price objective on MasTec from $154.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus lifted their price target on shares of MasTec from $171.00 to $181.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, MasTec has a consensus rating of “Buy” and an average target price of $166.75.

MasTec Stock Performance

NYSE:MTZ opened at $158.44 on Monday. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The company has a 50 day moving average price of $138.27 and a 200 day moving average price of $136.71. The stock has a market capitalization of $12.50 billion, a P/E ratio of 141.47 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that MasTec will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at $3,027,490. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTZ. Hodges Capital Management Inc. boosted its stake in MasTec by 10.3% during the first quarter. Hodges Capital Management Inc. now owns 27,753 shares of the construction company’s stock worth $3,239,000 after buying an additional 2,594 shares during the period. Strs Ohio bought a new position in MasTec during the 1st quarter worth about $1,082,000. Geneos Wealth Management Inc. lifted its position in shares of MasTec by 15.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company’s stock worth $89,000 after purchasing an additional 104 shares during the period. Belpointe Asset Management LLC lifted its holdings in MasTec by 42.7% during the first quarter. Belpointe Asset Management LLC now owns 3,252 shares of the construction company’s stock worth $380,000 after buying an additional 973 shares during the period. Finally, Bayforest Capital Ltd lifted its position in shares of MasTec by 294.3% during the first quarter. Bayforest Capital Ltd now owns 6,419 shares of the construction company’s stock valued at $749,000 after buying an additional 4,791 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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.