MasTec (NYSE:MTZ) Now Covered by Wolfe Research

Wolfe Research assumed coverage on shares of MasTec (NYSE:MTZ) in a research report released on Monday morning, MarketBeat Ratings reports. The firm issued a peer perform rating on the construction company’s stock.

MTZ has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. B. Riley reaffirmed a “buy” rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Robert W. Baird reduced their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Truist Financial boosted their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $122.94 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. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 109.77 and a beta of 1.74. The company’s 50 day simple moving average is $130.38 and its 200 day simple moving average is $133.64.

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

Insider Transactions at MasTec

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in MasTec in the third quarter worth $405,000. FMR LLC grew its position in shares of MasTec by 18.1% in the 3rd quarter. FMR LLC now owns 3,382 shares of the construction company’s stock worth $416,000 after buying an additional 518 shares during the last quarter. BNP Paribas Financial Markets increased its position in MasTec by 668.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 28,792 shares of the construction company’s stock valued at $3,544,000 after purchasing an additional 25,044 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MasTec by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 342,318 shares of the construction company’s stock worth $42,139,000 after buying an additional 1,421 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of MasTec by 140.6% in the 3rd quarter. Captrust Financial Advisors now owns 4,541 shares of the construction company’s stock worth $559,000 after acquiring an additional 2,654 shares in 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.