MasTec, Inc. (NYSE:MTZ) Given Average Rating of “Moderate Buy” by Brokerages

MasTec, Inc. (NYSE:MTZ) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $127.62.

A number of research firms have recently commented on MTZ. The Goldman Sachs Group lifted their target price on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial lifted their target price on MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. began coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 target price on the stock. Citigroup lifted their target price on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, DA Davidson lifted their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other MasTec news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,800 shares of company stock valued at $2,978,212 in the last quarter. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FACT Capital LP grew its holdings in shares of MasTec by 20.7% during the fourth quarter. FACT Capital LP now owns 101,929 shares of the construction company’s stock worth $7,718,000 after purchasing an additional 17,511 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of MasTec during the first quarter worth about $785,000. Electron Capital Partners LLC grew its holdings in shares of MasTec by 16.1% during the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after purchasing an additional 238,874 shares in the last quarter. Swedbank AB purchased a new position in shares of MasTec during the first quarter worth about $5,287,000. Finally, Interval Partners LP purchased a new position in shares of MasTec during the first quarter worth about $4,230,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of NYSE:MTZ opened at $127.28 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The stock’s fifty day simple moving average is $115.72 and its two-hundred day simple moving average is $107.04. MasTec has a 1-year low of $44.65 and a 1-year high of $130.22. The stock has a market cap of $10.11 billion, a PE ratio of -908.93 and a beta of 1.70.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. As a group, analysts forecast that MasTec will post 2.69 EPS for the current fiscal year.

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.