MasTec (NYSE:MTZ) Price Target Cut to $154.00 by Analysts at Truist Financial

MasTec (NYSE:MTZ) had its target price lowered by Truist Financial from $197.00 to $154.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s target price indicates a potential upside of 39.43% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on MTZ. Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Guggenheim reissued a “buy” rating and issued a $195.00 price target on shares of MasTec in a research report on Tuesday, March 25th. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Citigroup increased their target price 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. Finally, Piper Sandler assumed coverage on MasTec in a research report on Tuesday. They set an “overweight” rating and a $134.00 target price for the company. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

MasTec Stock Performance

MTZ traded up $2.89 during midday trading on Tuesday, reaching $110.45. The company’s stock had a trading volume of 189,936 shares, compared to its average volume of 922,539. MasTec has a twelve month low of $82.29 and a twelve month high of $166.95. The stock has a market cap of $8.76 billion, a P/E ratio of 98.96 and a beta of 1.62. The company has a fifty day simple moving average of $127.87 and a 200 day simple moving average of $133.55. 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 released its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. Research analysts expect that MasTec will post 3.44 earnings per share for the current year.

Insider Activity at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was 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 of the company’s stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently added to or reduced their stakes in MTZ. Arrowstreet Capital Limited Partnership purchased a new position in MasTec during the 4th quarter worth approximately $59,910,000. First Trust Advisors LP raised its stake in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after purchasing an additional 373,145 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after buying an additional 363,502 shares in the last quarter. Merewether Investment Management LP acquired a new stake in MasTec during the 4th quarter valued at $46,612,000. Finally, Freestone Grove Partners LP bought a new stake in MasTec during the 4th quarter worth about $31,730,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.