MasTec (NYSE:MTZ) Given “Buy” Rating at Guggenheim

Guggenheim reissued their buy rating on shares of MasTec (NYSE:MTZ) in a report released on Tuesday,Benzinga reports. Guggenheim currently has a $195.00 price target on the construction company’s stock.

Other analysts have also issued reports about the stock. Truist Financial boosted their target price on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays lifted their price objective on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. increased their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Robert W. Baird lowered their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Price Performance

Shares of NYSE:MTZ opened at $128.46 on Tuesday. 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 $10.19 billion, a price-to-earnings ratio of 114.70 and a beta of 1.74. The business has a 50-day simple moving average of $134.87 and a two-hundred day simple moving average of $133.31. MasTec has a fifty-two week low of $82.29 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, analysts expect that MasTec will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of MasTec by 45.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,360 shares of the construction company’s stock worth $1,819,000 after purchasing an additional 4,203 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in MasTec by 1.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,395 shares of the construction company’s stock worth $1,824,000 after buying an additional 236 shares during the period. Polar Asset Management Partners Inc. bought a new stake in MasTec during the 4th quarter valued at about $3,036,000. Forum Financial Management LP boosted its position in MasTec by 23.8% in the 4th quarter. Forum Financial Management LP now owns 2,019 shares of the construction company’s stock valued at $275,000 after buying an additional 388 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in MasTec in the 4th quarter worth about $49,000. 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.