MasTec (NYSE:MTZ) Now Covered by Roth Capital

Roth Capital initiated coverage on shares of MasTec (NYSE:MTZ - Free Report) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $210.00 price objective on the construction company's stock.

A number of other equities research analysts have also recently commented on MTZ. Truist Financial lifted their price objective on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Piper Sandler upped their price target on MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group initiated coverage on shares of MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 target price on the stock. Robert W. Baird reduced their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Finally, Citigroup upped their price objective on shares of MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $169.29.

MasTec Price Performance

Shares of NYSE MTZ traded down $2.10 during trading on Tuesday, reaching $168.33. The company had a trading volume of 1,476,074 shares, compared to its average volume of 947,553. MasTec has a 52 week low of $89.96 and a 52 week high of $172.71. The business's 50 day moving average price is $152.79 and its 200-day moving average price is $139.13. The stock has a market cap of $13.28 billion, a PE ratio of 61.89 and a beta of 1.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22.

MasTec (NYSE:MTZ - Get Free Report) last released 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. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Analysts expect that MasTec will post 3.44 earnings per share for the current year.

Insider Buying and Selling at MasTec

In other 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 owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC bought a new stake in MasTec in the fourth quarter valued at approximately $227,000. Truist Financial Corp acquired a new position in shares of MasTec during the 4th quarter worth approximately $239,000. Bank of New York Mellon Corp raised its stake in MasTec by 25.9% in the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after acquiring an additional 114,502 shares during the period. Proficio Capital Partners LLC acquired a new stake in MasTec during the 4th quarter valued at $5,171,000. Finally, QRG Capital Management Inc. acquired a new position in shares of MasTec in the fourth quarter valued at $271,000. 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.