MasTec (NYSE:MTZ) Given “Buy” Rating at B. Riley

MasTec (NYSE:MTZ)‘s stock had its “buy” rating reiterated by B. Riley in a research report issued on Wednesday,Benzinga reports. They presently have a $165.00 price objective on the construction company’s stock, up from their previous price objective of $151.00. B. Riley’s price target indicates a potential upside of 31.66% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Robert W. Baird cut their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. KeyCorp raised their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Citigroup raised their price target on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Truist Financial raised their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Guggenheim began coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

MasTec Stock Performance

Shares of MTZ stock traded up $3.79 during mid-day trading on Wednesday, reaching $125.32. The stock had a trading volume of 208,501 shares, compared to its average volume of 847,486. The firm’s 50 day simple moving average is $136.79 and its 200 day simple moving average is $132.49. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a one year low of $82.29 and a one year high of $166.95. The firm has a market cap of $9.94 billion, a PE ratio of 111.89 and a beta of 1.74.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, analysts forecast that MasTec will post 3.44 EPS for the current year.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of MasTec by 45.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,360 shares of the construction company’s stock worth $1,819,000 after purchasing an additional 4,203 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in MasTec by 1.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,395 shares of the construction company’s stock worth $1,824,000 after acquiring an additional 236 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in MasTec during the fourth quarter worth about $3,036,000. Forum Financial Management LP lifted its holdings in MasTec by 23.8% during the fourth quarter. Forum Financial Management LP now owns 2,019 shares of the construction company’s stock worth $275,000 after acquiring an additional 388 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in MasTec during the fourth quarter worth about $49,000. 78.10% of the stock is owned by institutional investors and hedge funds.

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.