Analysts Set MasTec, Inc. (NYSE:MTZ) PT at $151.00

MasTec, Inc. (NYSE:MTZ) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $151.00.

Several analysts have recently commented on MTZ shares. Citigroup reduced their price objective on shares of MasTec from $167.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, April 25th. KeyCorp decreased their price target on shares of MasTec from $168.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Piper Sandler initiated coverage on shares of MasTec in a research report on Tuesday, April 8th. They set an “overweight” rating and a $134.00 price objective on the stock. Barclays boosted their target price on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Robert W. Baird cut their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd.

Insiders Place Their Bets

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new position in MasTec during the fourth quarter valued at $59,910,000. First Trust Advisors LP lifted its position in shares of MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after buying an additional 373,145 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after acquiring an additional 363,502 shares during the period. Merewether Investment Management LP purchased a new stake in MasTec in the 4th quarter worth about $46,612,000. Finally, Freestone Grove Partners LP bought a new stake in MasTec in the 4th quarter valued at about $31,730,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

MTZ stock opened at $134.00 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a 52-week low of $86.95 and a 52-week high of $166.95. The company has a market capitalization of $10.59 billion, a P/E ratio of 119.64 and a beta of 1.62. The company has a fifty day moving average price of $120.27 and a 200-day moving average price of $132.50.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, equities analysts expect that MasTec will post 3.44 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.