Brokerages Set MasTec, Inc. (NYSE:MTZ) Target Price at $166.75

Shares of MasTec, Inc. (NYSE:MTZ - Get Free Report) have received an average recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $166.75.

Several brokerages have commented on MTZ. Stifel Nicolaus increased their target price on MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Guggenheim reaffirmed a "buy" rating and set a $195.00 price target on shares of MasTec in a report on Monday, May 5th. Truist Financial raised their target price on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Barclays raised their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th.

MasTec Stock Down 0.8%

Shares of MTZ stock traded down $1.24 during midday trading on Wednesday, reaching $163.42. 1,586,801 shares of the stock were exchanged, compared to its average volume of 944,730. The firm has a market cap of $12.89 billion, a PE ratio of 60.08 and a beta of 1.75. The company's 50 day moving average is $146.37 and its two-hundred day moving average is $137.78. MasTec has a 1 year low of $89.96 and a 1 year high of $166.95. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the business posted ($0.13) EPS. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that MasTec will post 3.44 EPS for the current year.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction on 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 now owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction 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 approximately $3,027,490. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

Institutional Trading of MasTec

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

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.