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

MasTec, Inc. (NYSE:MTZ) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $117.50.

Several equities analysts have recently commented on MTZ shares. DA Davidson upped their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. B. Riley lifted their target price on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus upped their price target on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group boosted their price objective on shares of MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Truist Financial reaffirmed a “hold” rating and set a $112.00 target price (up from $109.00) on shares of MasTec in a report on Monday, August 5th.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently added to or reduced their stakes in MTZ. Victory Capital Management Inc. increased its stake in MasTec by 17.8% in the 4th quarter. Victory Capital Management Inc. now owns 12,628 shares of the construction company’s stock valued at $956,000 after buying an additional 1,906 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of MasTec in the 4th quarter worth about $206,000. Charles Schwab Investment Management Inc. grew its position in MasTec by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 597,747 shares of the construction company’s stock valued at $45,261,000 after buying an additional 25,779 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in MasTec during the fourth quarter worth about $430,000. Finally, Quadrant Capital Group LLC raised its position in MasTec by 30.9% in the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after acquiring an additional 212 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $126.14 on Monday. The stock has a market cap of $10.02 billion, a P/E ratio of -901.00 and a beta of 1.70. The company has a fifty day moving average price of $108.63 and a two-hundred day moving average price of $102.37. MasTec has a one year low of $44.65 and a one year high of $127.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, equities analysts predict that MasTec will post 2.71 EPS for the current 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.