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

Shares of MasTec, Inc. (NYSE:MTZ) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $162.06.

Several equities research analysts have recently weighed in on the stock. Robert W. Baird lowered their price target 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. Citigroup upped their price target on shares of MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Truist Financial upped their price target on shares of MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Stifel Nicolaus increased their target price on shares of MasTec from $143.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, KeyCorp increased their target price on shares of MasTec from $140.00 to $163.00 and gave the company an “overweight” rating in a research report on Monday, May 5th.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director now owns 39,782 shares in the company, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction that occurred on 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 owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its stake in MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after purchasing an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after purchasing an additional 8,948 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of MasTec by 286.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after purchasing an additional 13,241 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of MasTec during the fourth quarter worth $415,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of MasTec by 0.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock worth $1,883,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MTZ stock opened at $152.54 on Friday. The company’s 50-day simple moving average is $129.66 and its two-hundred day simple moving average is $135.32. MasTec has a one year low of $89.96 and a one year high of $166.95. The company has a market capitalization of $12.04 billion, a P/E ratio of 136.19 and a beta of 1.71. 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 (NYSE:MTZ) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the prior year, the company earned ($0.13) EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that MasTec will post 3.44 EPS 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.