MasTec, Inc. (NYSE:MTZ) Given Consensus Rating of "Buy" by Brokerages

MasTec, Inc. (NYSE:MTZ - Get Free Report) has been assigned an average recommendation of "Buy" from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $169.29.

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. KeyCorp boosted their target price on shares of MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group assumed coverage on shares of MasTec in a research note on Friday, May 16th. They set a "buy" rating and a $188.00 target price for the company. Wall Street Zen cut shares of MasTec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Roth Capital started coverage on shares of MasTec in a research note on Tuesday, July 1st. They set a "buy" rating and a $210.00 target price for the company.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director directly owned 39,782 shares in the company, valued at $6,122,051.98. The trade was a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 21.30% of the stock is owned by insiders.

Hedge Funds Weigh In On MasTec

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after acquiring an additional 116 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after acquiring an additional 263 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company's stock worth $47,000 after acquiring an additional 192 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of MasTec in the 1st quarter worth approximately $35,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

Shares of MasTec stock traded up $1.48 during trading on Friday, hitting $170.25. 539,455 shares of the company's stock were exchanged, compared to its average volume of 946,119. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. The business has a 50-day simple moving average of $160.66 and a 200-day simple moving average of $141.21. MasTec has a 52-week low of $89.96 and a 52-week high of $173.24. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 62.59 and a beta of 1.75.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts forecast that MasTec will post 3.44 EPS for the current year.

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.