MasTec’s (MTZ) Buy Rating Reiterated at Guggenheim

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

A number of other brokerages have also recently issued reports on MTZ. B. Riley reissued 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. KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Stifel Nicolaus dropped their target price on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Truist Financial boosted their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.07.

MasTec Stock Performance

MTZ stock opened at $118.70 on Tuesday. The stock has a 50-day moving average price of $133.53 and a 200-day moving average price of $133.14. MasTec has a 1-year low of $82.29 and a 1-year high of $166.95. The firm has a market cap of $9.41 billion, a PE ratio of 105.98 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

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 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%. As a group, equities research analysts expect that MasTec will post 3.44 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On MasTec

Several institutional investors have recently bought and sold shares of MTZ. Wealth Enhancement Advisory Services LLC lifted its stake in shares of MasTec by 45.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,360 shares of the construction company’s stock valued at $1,819,000 after purchasing an additional 4,203 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of MasTec by 1.8% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,395 shares of the construction company’s stock worth $1,824,000 after buying an additional 236 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in MasTec in the fourth quarter worth $3,036,000. Forum Financial Management LP grew its holdings in shares of MasTec by 23.8% in the fourth quarter. Forum Financial Management LP now owns 2,019 shares of the construction company’s stock worth $275,000 after purchasing an additional 388 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in MasTec during the 4th quarter valued at about $49,000. Institutional investors own 78.10% of the company’s stock.

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.