MasTec (NYSE:MTZ) Raised to “Strong-Buy” at Piper Sandler

MasTec (NYSE:MTZ) was upgraded by investment analysts at Piper Sandler to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on MTZ. Citigroup boosted their price objective on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Stifel Nicolaus reduced their price target 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. KeyCorp boosted their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird decreased their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

MasTec Price Performance

MTZ stock opened at $106.45 on Monday. The company has a market cap of $8.44 billion, a PE ratio of 95.04 and a beta of 1.62. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average price of $126.64 and a two-hundred day moving average price of $133.22. MasTec has a 12-month low of $82.29 and a 12-month high of $166.95.

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

Insider Buying and Selling

In other MasTec 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 transaction of $331,312.71. Following the sale, the director now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in MasTec by 15.1% during the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock valued at $81,000 after purchasing an additional 78 shares in the last quarter. Arizona State Retirement System boosted its stake in MasTec by 0.5% during the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock valued at $2,504,000 after buying an additional 89 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in MasTec by 2.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after buying an additional 94 shares in the last quarter. Fielder Capital Group LLC grew its holdings in MasTec by 6.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock worth $247,000 after acquiring an additional 105 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in MasTec by 0.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company’s stock valued at $1,883,000 after acquiring an additional 105 shares during the last quarter. 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.