MasTec (NYSE:MTZ) Now Covered by Analysts at Wolfe Research

Investment analysts at Wolfe Research started coverage on shares of MasTec (NYSE:MTZ) in a report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “peer perform” rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on the company. Barclays raised their price objective on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Citigroup raised their price target on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Guggenheim restated a “buy” rating and set a $195.00 price target on shares of MasTec in a report on Tuesday, March 25th. Truist Financial increased their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus cut their target price on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Stock Performance

NYSE MTZ opened at $115.22 on Monday. The company has a market cap of $9.14 billion, a P/E ratio of 102.87 and a beta of 1.74. The company has a fifty day simple moving average of $132.73 and a 200 day simple moving average of $133.63. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a 12-month low of $82.29 and a 12-month high of $166.95.

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

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several institutional investors have recently made changes to their positions in MTZ. New York State Teachers Retirement System grew its position in shares of MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after purchasing an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after purchasing an additional 8,948 shares during the period. Atom Investors LP grew its holdings in MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after buying an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after buying an additional 13,241 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.