MasTec (NYSE:MTZ) Upgraded at Piper Sandler

Piper Sandler upgraded shares of MasTec (NYSE:MTZ) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on MTZ. Stifel Nicolaus decreased their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Robert W. Baird lowered their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. KeyCorp increased their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating and set a $195.00 target price on shares of MasTec in a research report on Tuesday, March 25th. Finally, Truist Financial dropped their price target on MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $153.87.

MasTec Price Performance

MTZ stock opened at $121.90 on Monday. The stock has a market cap of $9.67 billion, a PE ratio of 108.84 and a beta of 1.62. MasTec has a 12 month low of $82.29 and a 12 month high of $166.95. The company has a 50-day moving average price of $125.67 and a 200 day moving average price of $133.12. 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 (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Equities research analysts anticipate that MasTec will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction 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 owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasTec

Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in MasTec by 18.1% during the 3rd quarter. FMR LLC now owns 3,382 shares of the construction company’s stock valued at $416,000 after purchasing an additional 518 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of MasTec by 140.6% during the third quarter. Captrust Financial Advisors now owns 4,541 shares of the construction company’s stock worth $559,000 after purchasing an additional 2,654 shares during the period. HighTower Advisors LLC boosted its position in MasTec by 9.8% in the third quarter. HighTower Advisors LLC now owns 3,511 shares of the construction company’s stock valued at $433,000 after buying an additional 312 shares during the last quarter. Stifel Financial Corp increased its holdings in MasTec by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 10,105 shares of the construction company’s stock worth $1,244,000 after buying an additional 271 shares during the period. Finally, State Street Corp raised its position in MasTec by 1.4% during the 3rd 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 during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.