Truist Financial Issues Positive Forecast for MasTec (NYSE:MTZ) Stock Price

MasTec (NYSE:MTZ - Free Report) had its price target hoisted by Truist Financial from $154.00 to $184.00 in a research note published on Monday, MarketBeat reports. They currently have a buy rating on the construction company's stock.

Other research analysts have also issued reports about the stock. KeyCorp boosted their price target on shares of MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday. Robert W. Baird cut their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Barclays raised their target price on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Wolfe Research started coverage on MasTec in a research report on Monday, March 31st. They issued a "peer perform" rating for the company. Finally, Stifel Nicolaus cut their price objective on shares of MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $160.33.

MasTec Trading Up 2.1 %

Shares of NYSE:MTZ traded up $3.12 during trading hours on Monday, hitting $148.41. 41,472 shares of the company's stock traded hands, compared to its average volume of 931,051. The business has a fifty day moving average price of $121.40 and a 200-day moving average price of $132.96. MasTec has a 1 year low of $89.96 and a 1 year high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a market capitalization of $11.71 billion, a P/E ratio of 132.51 and a beta of 1.71.

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

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The shares were 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 of the company's stock, valued at $3,027,490. This represents a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasTec

Several hedge funds have recently modified their holdings of MTZ. Arrowstreet Capital Limited Partnership purchased a new stake in MasTec during the fourth quarter worth $59,910,000. First Trust Advisors LP lifted its position in shares of MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock worth $80,021,000 after purchasing an additional 373,145 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in MasTec by 137.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after purchasing an additional 363,502 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of MasTec in the 4th quarter valued at about $46,612,000. Finally, Freestone Grove Partners LP purchased a new position in shares of MasTec during the fourth quarter worth about $31,730,000. 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.