MasTec, Inc. (NYSE:MTZ) Given Average Recommendation of "Moderate Buy" by Analysts

MasTec, Inc. (NYSE:MTZ - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $162.06.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Piper Sandler raised their target price on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. B. Riley reissued a "buy" rating and set a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Finally, Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in MasTec by 163.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock valued at $121,843,000 after buying an additional 648,184 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of MasTec in the fourth quarter worth approximately $59,910,000. First Trust Advisors LP boosted its stake in shares of MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after purchasing an additional 373,145 shares during the period. Balyasny Asset Management L.P. grew its stake in MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in MasTec during the 4th quarter valued at $46,612,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Up 2.0%

NYSE MTZ traded up $3.08 during trading hours on Friday, hitting $155.53. The company's stock had a trading volume of 967,948 shares, compared to its average volume of 942,055. The company's 50-day simple moving average is $130.19 and its two-hundred day simple moving average is $135.30. MasTec has a 52 week low of $89.96 and a 52 week high of $166.95. The company has a market capitalization of $12.27 billion, a PE ratio of 138.86 and a beta of 1.71. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

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

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.