MasTec (NYSE:MTZ) Now Covered by Analysts at Wolfe Research

Wolfe Research started coverage on shares of MasTec (NYSE:MTZ) in a research report released on Monday, Marketbeat Ratings reports. The firm issued a peer perform rating on the construction company’s stock.

Other analysts also recently issued reports about the company. Truist Financial raised their price target on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Robert W. Baird lowered their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. B. Riley reaffirmed a “buy” rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Stifel Nicolaus reduced their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays boosted their target price on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.07.

MasTec Stock Performance

MasTec stock opened at $116.85 on Monday. The company’s 50-day moving average price is $131.96 and its 200-day moving average price is $133.67. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $9.27 billion, a PE ratio of 104.33 and a beta of 1.74. MasTec has a twelve month low of $82.29 and a twelve month high of $166.95.

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

Insiders Place Their Bets

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently modified their holdings of MTZ. Wilmington Savings Fund Society FSB bought a new position in MasTec in the third quarter worth approximately $25,000. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its position 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 worth $25,000 after acquiring an additional 116 shares in the last quarter. Colonial Trust Co SC lifted its stake in shares of 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 purchasing an additional 141 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after purchasing an additional 128 shares in the last quarter. 78.10% of the stock is currently owned by 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.