MasTec’s (MTZ) Buy Rating Reaffirmed at Guggenheim

Guggenheim reaffirmed their buy rating on shares of MasTec (NYSE:MTZ) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $195.00 target price on the construction company’s stock.

Other equities analysts also recently issued reports about the company. Truist Financial cut their price objective on MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. 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. Piper Sandler initiated coverage on shares of MasTec in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $134.00 price objective for the company. B. Riley restated a “buy” rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Finally, Barclays increased their price target on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.33.

MasTec Trading Up 1.9 %

NYSE MTZ opened at $143.58 on Monday. The company has a market cap of $11.35 billion, a P/E ratio of 128.20 and a beta of 1.71. MasTec has a 12 month low of $89.96 and a 12 month high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a 50-day moving average of $120.74 and a 200-day moving average of $132.79.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. MasTec’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) EPS. As a group, equities analysts predict that MasTec will post 3.44 earnings per share for the current year.

Insider Transactions at MasTec

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

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hood River Capital Management LLC increased its holdings in shares of MasTec by 3.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock valued at $208,444,000 after acquiring an additional 51,531 shares during the last quarter. AQR Capital Management LLC boosted its holdings in MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock worth $106,117,000 after purchasing an additional 91,564 shares during the period. Balyasny Asset Management L.P. increased its stake in MasTec by 137.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after purchasing an additional 363,502 shares during the last quarter. First Trust Advisors LP lifted its position in shares of MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock worth $80,021,000 after buying an additional 373,145 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of MasTec by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company’s stock valued at $65,440,000 after buying an additional 4,024 shares during the period. Institutional investors and hedge funds 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.