MasTec (NYSE:MTZ) Coverage Initiated at Piper Sandler

Piper Sandler initiated coverage on shares of MasTec (NYSE:MTZ) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $134.00 price target on the construction company’s stock.

A number of other equities analysts have also recently issued reports on MTZ. Robert W. Baird cut their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus reduced their target price on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Barclays raised their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. B. Riley restated a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Finally, Citigroup lifted their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus target price of $156.00.

MasTec Price Performance

Shares of NYSE:MTZ opened at $106.45 on Tuesday. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 95.04 and a beta of 1.62. 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 business’s 50 day simple moving average is $126.64 and its 200-day simple moving average is $133.22. MasTec has a 12 month low of $82.29 and a 12 month high of $166.95.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, equities analysts forecast that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares of the company’s stock, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 21.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of MasTec in the 4th quarter valued at about $59,910,000. First Trust Advisors LP raised its holdings in 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 buying an additional 373,145 shares during the period. Balyasny Asset Management L.P. lifted its position 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 buying an additional 363,502 shares in the last quarter. Merewether Investment Management LP purchased a new stake in MasTec during the fourth quarter worth approximately $46,612,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of MasTec in the fourth quarter worth $31,730,000. Hedge funds and other 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.