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

Shares of MasTec, Inc. (NYSE:MTZ) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $116.23.

Several research analysts have commented on the stock. Barclays lifted their price objective on shares of MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. The Goldman Sachs Group lifted their price objective on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial reissued a “hold” rating and set a $109.00 target price (up from $96.00) on shares of MasTec in a research note on Monday, May 6th. Robert W. Baird boosted their target price on shares of MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Finally, Citigroup boosted their target price on shares of MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd.

Insider Activity at MasTec

In related news, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the sale, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the transaction, the director now directly owns 10,666 shares in the company, valued at $1,137,742.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 50,725 shares of the company’s stock, valued at $5,579,750. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. Boston Partners bought a new position in MasTec in the first quarter worth about $748,000. Cetera Advisors LLC bought a new position in MasTec in the first quarter worth about $268,000. Community Trust & Investment Co. increased its holdings in shares of MasTec by 0.6% during the first quarter. Community Trust & Investment Co. now owns 237,165 shares of the construction company’s stock valued at $22,116,000 after acquiring an additional 1,402 shares in the last quarter. Finally, Second Line Capital LLC increased its holdings in shares of MasTec by 0.8% during the first quarter. Second Line Capital LLC now owns 30,026 shares of the construction company’s stock valued at $2,800,000 after acquiring an additional 225 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Down 2.0 %

NYSE MTZ opened at $100.92 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $105.52 and a two-hundred day moving average of $87.86. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of -720.86 and a beta of 1.65. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.33. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. On average, analysts predict that MasTec will post 2.58 earnings per share for the current year.

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.