Truist Financial Reaffirms “Hold” Rating for MasTec (NYSE:MTZ)

MasTec (NYSE:MTZ)‘s stock had its “hold” rating reissued by equities researchers at Truist Financial in a research note issued on Monday, Benzinga reports. They currently have a $109.00 price objective on the construction company’s stock, up from their previous price objective of $96.00. Truist Financial’s target price would indicate a potential upside of 3.15% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Cowen lifted their price objective on shares of MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price objective on shares of MasTec in a research note on Monday, March 4th. The Goldman Sachs Group lifted their price objective on shares of MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Citigroup lifted their price objective on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, Robert W. Baird lifted their price objective on shares of MasTec from $89.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.08.

MasTec Stock Down 0.1 %

MTZ stock opened at $105.67 on Monday. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of -754.79 and a beta of 1.61. The firm’s 50-day moving average is $89.26 and its two-hundred day moving average is $73.70. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. On average, analysts forecast that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in MasTec during the fourth quarter valued at approximately $37,000. Headlands Technologies LLC purchased a new position in MasTec during the third quarter valued at approximately $41,000. Itau Unibanco Holding S.A. purchased a new position in MasTec during the third quarter valued at approximately $43,000. CWM LLC grew its position in MasTec by 59.4% during the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after purchasing an additional 312 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in MasTec by 30.9% in the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after acquiring an additional 212 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.