MasTec (NYSE:MTZ) Upgraded by Wall Street Zen to Strong-Buy Rating

MasTec (NYSE:MTZ) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on MTZ. Citigroup upped their target price on MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. B. Riley restated a “buy” rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. KeyCorp upped their target price on MasTec from $140.00 to $163.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Stifel Nicolaus upped their target price on MasTec from $143.00 to $171.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.06.

MasTec Stock Performance

Shares of MTZ opened at $152.54 on Friday. The stock’s 50-day simple moving average is $129.66 and its 200 day simple moving average is $135.32. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 136.19 and a beta of 1.71. 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 $89.96 and a 52-week high of $166.95.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) EPS. Research analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was 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 in the company, valued at $3,027,490. This trade represents a 9.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director now owns 39,782 shares in the company, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasTec

Several institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System lifted its holdings in MasTec by 21.7% in the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares during the period. Exchange Traded Concepts LLC lifted its holdings in MasTec by 286.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after buying an additional 13,241 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in MasTec by 0.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock worth $1,883,000 after buying an additional 105 shares during the period. Finally, Barclays PLC lifted its holdings in MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after buying an additional 209,472 shares during the period. 78.10% of the stock is currently owned by 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.