Wall Street Zen Upgrades MasTec (NYSE:MTZ) to "Strong-Buy"

MasTec (NYSE:MTZ - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Other equities analysts have also recently issued reports about the company. Truist Financial lifted their price objective on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. Guggenheim restated a "buy" rating and set a $195.00 price objective on shares of MasTec in a research report on Monday, May 5th. Citigroup lifted their target price on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. KeyCorp lifted their target price on MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Wolfe Research assumed coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, MasTec currently has an average rating of "Moderate Buy" and a consensus price target of $162.69.

MasTec Stock Performance

NYSE MTZ traded up $1.04 during trading on Friday, hitting $156.24. The company's stock had a trading volume of 647,754 shares, compared to its average volume of 942,684. The firm has a 50 day moving average price of $131.88 and a 200 day moving average price of $135.65. MasTec has a 52 week low of $89.96 and a 52 week high of $166.95. The firm has a market cap of $12.33 billion, a P/E ratio of 139.50 and a beta of 1.71. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

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 (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 business had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. During the same quarter last year, the business earned ($0.13) earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the director now owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction 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 sale, the director now directly owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This trade represents 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 Investors Weigh In On MasTec

Institutional investors have recently modified their holdings of the company. Ameliora Wealth Management Ltd. acquired a new stake in MasTec in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC increased 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 valued at $25,000 after acquiring an additional 116 shares during the last quarter. Colonial Trust Co SC grew its stake in MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after buying an additional 128 shares during the last quarter. Finally, Rothschild Investment LLC grew its stake in MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after buying an additional 263 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.