MasTec, Inc. (NYSE:MTZ) Receives Average Recommendation of “Moderate Buy” from Analysts

MasTec, Inc. (NYSE:MTZ) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $160.14.

MTZ has been the topic of several recent analyst reports. Barclays upped their price target on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Truist Financial upped their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Citigroup upped their price target on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd.

MasTec Stock Down 3.0 %

Shares of NYSE:MTZ opened at $115.33 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $140.09 and a two-hundred day moving average of $132.15. The stock has a market cap of $9.14 billion, a P/E ratio of 102.97 and a beta of 1.74. MasTec has a 52-week low of $82.29 and a 52-week high of $166.95.

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

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in MasTec by 65.6% in the 3rd 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 in the last quarter. State Street Corp raised its position in MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Hood River Capital Management LLC raised its position in MasTec by 3.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock valued at $208,444,000 after purchasing an additional 51,531 shares in the last quarter. Geode Capital Management LLC raised its position in MasTec by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in MasTec by 13.3% in the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock valued at $106,117,000 after purchasing an additional 91,564 shares in the last quarter. Institutional investors and hedge funds 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.