MasTec, Inc. (NYSE:MTZ) Receives $160.07 Average Price Target from Brokerages

Shares of MasTec, Inc. (NYSE:MTZ) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $160.07.

MTZ has been the topic of a number of analyst reports. Barclays increased their price objective on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Guggenheim reiterated a “buy” rating and issued a $195.00 price target on shares of MasTec in a report on Tuesday, March 25th. Robert W. Baird decreased their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Citigroup upped their target price on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Wolfe Research assumed coverage on MasTec in a research report on Monday, March 31st. They set a “peer perform” rating on the stock.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This represents a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTZ. New York State Teachers Retirement System lifted its position in MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after acquiring an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock valued at $3,880,000 after purchasing an additional 8,948 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of MasTec by 286.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after purchasing an additional 13,241 shares in the last quarter. State Street Corp boosted its stake in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in MasTec during the 4th quarter valued at $415,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

Shares of NYSE:MTZ opened at $105.87 on Friday. MasTec has a 12 month low of $82.29 and a 12 month high of $166.95. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 94.53 and a beta of 1.74. The business’s 50 day simple moving average is $128.35 and its 200-day simple moving average is $133.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

MasTec (NYSE:MTZ) last posted its earnings results 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 company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, equities analysts forecast that MasTec will post 3.44 earnings per share for the current fiscal year.

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.