MasTec (NYSE:MTZ) Upgraded by The Goldman Sachs Group to "Buy" Rating

MasTec (NYSE:MTZ - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus boosted their price target on shares of MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. B. Riley reiterated a "buy" rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Piper Sandler raised their price target on MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wolfe Research assumed coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Finally, Robert W. Baird cut 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. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MasTec currently has an average rating of "Moderate Buy" and an average target price of $162.69.

MasTec Trading Up 1.2%

NYSE MTZ opened at $159.46 on Friday. The firm's fifty day moving average is $135.63 and its two-hundred day moving average is $136.33. MasTec has a one year low of $89.96 and a one year high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market cap of $12.58 billion, a PE ratio of 142.38 and a beta of 1.71.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly 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. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter in the previous year, the firm posted ($0.13) EPS. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that MasTec will post 3.44 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Hodges Capital Management Inc. lifted its stake in shares of MasTec by 10.3% in the first quarter. Hodges Capital Management Inc. now owns 27,753 shares of the construction company's stock worth $3,239,000 after acquiring an additional 2,594 shares in the last quarter. Strs Ohio purchased a new stake in MasTec during the 1st quarter worth approximately $1,082,000. Geneos Wealth Management Inc. increased its holdings in MasTec by 15.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company's stock worth $89,000 after purchasing an additional 104 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of MasTec by 42.7% in the 1st quarter. Belpointe Asset Management LLC now owns 3,252 shares of the construction company's stock valued at $380,000 after purchasing an additional 973 shares in the last quarter. Finally, Bayforest Capital Ltd boosted its stake in shares of MasTec by 294.3% during the 1st quarter. Bayforest Capital Ltd now owns 6,419 shares of the construction company's stock valued at $749,000 after buying an additional 4,791 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.