MasTec’s (MTZ) “Buy” Rating Reaffirmed at B. Riley

B. Riley reaffirmed their buy rating on shares of MasTec (NYSE:MTZ) in a research note released on Wednesday,Benzinga reports. They currently have a $165.00 price target on the construction company’s stock, up from their previous price target of $151.00.

Several other research analysts also recently issued reports on the company. Stifel Nicolaus cut their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. KeyCorp upped their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Citigroup upped their price target on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Truist Financial upped their price objective 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. Finally, Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Price Performance

NYSE:MTZ opened at $125.97 on Wednesday. The stock has a market cap of $9.99 billion, a PE ratio of 112.47 and a beta of 1.74. MasTec has a one year low of $82.29 and a one year high of $166.95. 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 stock has a 50 day moving average price of $136.38 and a 200 day moving average price of $132.44.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion for 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%. Equities research analysts expect that MasTec will post 3.44 EPS for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several hedge funds have recently modified their holdings of MTZ. Ameliora Wealth Management Ltd. purchased a new stake in MasTec in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its stake in 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 MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in MasTec in the 3rd quarter worth about $25,000. Finally, Smartleaf Asset Management LLC lifted its stake in MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after acquiring an additional 128 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.