Roth Capital Upgrades MasTec (NYSE:MTZ) to Strong-Buy

MasTec (NYSE:MTZ - Get Free Report) was upgraded by investment analysts at Roth Capital to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

MTZ has been the topic of a number of other reports. Citigroup upped their target price on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Robert W. Baird lowered their target price on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Truist Financial boosted their price target on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group raised shares of MasTec from a "neutral" rating to a "buy" rating and increased their price target for the stock from $156.00 to $195.00 in a report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, MasTec has a consensus rating of "Buy" and an average price target of $169.29.

MasTec Price Performance

Shares of MasTec stock traded up $1.13 on Monday, reaching $169.36. The stock had a trading volume of 961,760 shares, compared to its average volume of 947,133. The business's 50 day moving average is $153.88 and its two-hundred day moving average is $139.33. 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 has a 1 year low of $89.96 and a 1 year high of $172.71. The company has a market cap of $13.36 billion, a P/E ratio of 62.26 and a beta of 1.75.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping 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 business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the firm posted ($0.13) EPS. MasTec's revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that MasTec will post 3.44 EPS for the current year.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director directly owned 39,782 shares in the company, valued at $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 available through the SEC website. 21.30% of the stock is owned by corporate insiders.

Institutional Trading of MasTec

A number of institutional investors have recently made changes to their positions in MTZ. Asset Management One Co. Ltd. raised its holdings in MasTec by 9.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company's stock valued at $5,253,000 after buying an additional 4,031 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of MasTec by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock valued at $1,883,000 after acquiring an additional 105 shares during the period. Truist Financial Corp bought a new position in shares of MasTec during the fourth quarter valued at about $239,000. State of Alaska Department of Revenue raised its stake in shares of MasTec by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 7,213 shares of the construction company's stock valued at $841,000 after acquiring an additional 190 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of MasTec by 37.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 34,593 shares of the construction company's stock worth $4,710,000 after purchasing an additional 9,434 shares during the period. 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.