MasTec (NYSE:MTZ) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler began coverage on shares of MasTec (NYSE:MTZ) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued an overweight rating and a $134.00 price target on the construction company’s stock.

A number of other equities analysts also recently commented on the company. KeyCorp boosted their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Barclays boosted their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Citigroup boosted their target price on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Robert W. Baird cut their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Truist Financial upped their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

MasTec Stock Down 1.0 %

Shares of MTZ opened at $106.45 on Tuesday. The stock has a market capitalization of $8.44 billion, a PE ratio of 95.04 and a beta of 1.62. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95. 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 company’s 50-day simple moving average is $126.64 and its 200-day simple moving average is $133.22.

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

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company’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 completion of the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is owned by company insiders.

Institutional Trading of MasTec

Several hedge funds have recently made changes to their positions in MTZ. FMR LLC raised its holdings in MasTec by 18.1% during the third quarter. FMR LLC now owns 3,382 shares of the construction company’s stock worth $416,000 after purchasing an additional 518 shares in the last quarter. Captrust Financial Advisors increased its position in MasTec by 140.6% during the 3rd quarter. Captrust Financial Advisors now owns 4,541 shares of the construction company’s stock worth $559,000 after purchasing an additional 2,654 shares during the period. HighTower Advisors LLC raised its stake in shares of MasTec by 9.8% during the 3rd quarter. HighTower Advisors LLC now owns 3,511 shares of the construction company’s stock worth $433,000 after buying an additional 312 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of MasTec by 94.3% in the 3rd quarter. Quantinno Capital Management LP now owns 21,802 shares of the construction company’s stock valued at $2,684,000 after buying an additional 10,583 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of MasTec by 2.8% in the third quarter. Stifel Financial Corp now owns 10,105 shares of the construction company’s stock valued at $1,244,000 after buying an additional 271 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.