Guggenheim Reiterates "Buy" Rating for MasTec (NYSE:MTZ)

MasTec (NYSE:MTZ - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Guggenheim in a research note issued to investors on Monday,Benzinga reports. They currently have a $195.00 price target on the construction company's stock. Guggenheim's target price points to a potential upside of 34.29% from the stock's previous close.

Other analysts have also issued research reports about the stock. Citigroup lowered their target price on shares of MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Piper Sandler assumed coverage on MasTec in a research note on Tuesday, April 8th. They set an "overweight" rating and a $134.00 price target for the company. Wolfe Research assumed coverage on shares of MasTec in a research report on Monday, March 31st. They set a "peer perform" rating for the company. Truist Financial cut their target price on shares of MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Barclays lifted their price target 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. Three research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

MasTec Price Performance

MTZ traded up $0.61 on Monday, hitting $145.21. 793,328 shares of the company were exchanged, compared to its average volume of 934,495. The business's fifty day moving average is $121.40 and its 200 day moving average is $132.96. 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 firm has a market capitalization of $11.46 billion, a P/E ratio of 129.65 and a beta of 1.71. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted ($0.13) EPS. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that MasTec will post 3.44 EPS for the current year.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec 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 transaction, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 21.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MasTec

A number of institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the third quarter worth approximately $25,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its position in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC grew its position in shares of MasTec by 335.7% in the fourth 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, Rothschild Investment LLC raised its stake in MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors 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.