MasTec (NYSE:MTZ) Research Coverage Started at Wolfe Research

Wolfe Research assumed coverage on shares of MasTec (NYSE:MTZ) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage issued a peer perform rating on the construction company’s stock.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Barclays increased their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Truist Financial boosted their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. B. Riley reaffirmed a “buy” rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Finally, KeyCorp boosted their price objective on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.07.

MasTec Stock Up 3.6 %

Shares of MTZ stock opened at $122.94 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a market cap of $9.75 billion, a PE ratio of 109.77 and a beta of 1.74. The business’s fifty day moving average is $130.38 and its 200-day moving average is $133.64. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Equities analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec in the 3rd quarter valued at $25,000. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after buying an additional 116 shares in the last quarter. Colonial Trust Co SC lifted its stake in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.