Baird R W Upgrades MasTec (NYSE:MTZ) to Strong-Buy

MasTec (NYSE:MTZ) was upgraded by Baird R W from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on MTZ. Truist Financial lifted their price target on shares of MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Citigroup lowered their price target on shares of MasTec from $220.00 to $219.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler lifted their price target on shares of MasTec from $134.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Jefferies Financial Group assumed coverage on shares of MasTec in a report on Friday, May 16th. They issued a “buy” rating and a $188.00 price target on the stock. Finally, TD Cowen lifted their price target on shares of MasTec from $175.00 to $195.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, MasTec presently has an average rating of “Buy” and a consensus price target of $191.76.

MasTec Price Performance

MasTec stock opened at $177.75 on Monday. MasTec has a 52 week low of $96.01 and a 52 week high of $194.00. The company’s 50 day moving average price is $169.97 and its two-hundred day moving average price is $145.36. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The stock has a market cap of $14.03 billion, a P/E ratio of 52.59 and a beta of 1.83.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. MasTec’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. On average, equities analysts predict that MasTec will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the transaction, the chief operating officer owned 194,249 shares of the company’s stock, valued at $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. KBC Group NV grew its position in shares of MasTec by 10.6% during the 1st quarter. KBC Group NV now owns 2,773 shares of the construction company’s stock valued at $324,000 after purchasing an additional 266 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in MasTec by 37.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company’s stock worth $1,915,000 after acquiring an additional 4,469 shares in the last quarter. GAMMA Investing LLC grew its position in MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company’s stock worth $107,000 after acquiring an additional 278 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in MasTec by 33.5% in the first quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company’s stock worth $263,000 after acquiring an additional 565 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in MasTec by 9.8% in the first quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company’s stock worth $5,253,000 after acquiring an additional 4,031 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.