MasTec, Inc. (NYSE:MTZ) Receives $116.23 Average PT from Brokerages

MasTec, Inc. (NYSE:MTZ) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $116.23.

Several research firms have recently weighed in on MTZ. Citigroup upped their price objective on MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Truist Financial reaffirmed a “hold” rating and set a $109.00 price target (up from $96.00) on shares of MasTec in a research note on Monday, May 6th. Craig Hallum boosted their price objective on shares of MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. DA Davidson raised their target price on shares of MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Barclays boosted their price target on shares of MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th.

Insider Buying and Selling at MasTec

In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total transaction of $304,009.50. Following the completion of the sale, the director now owns 10,666 shares of the company’s stock, valued at approximately $1,137,742.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the sale, the director now owns 50,725 shares in the company, valued at $5,579,750. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Javier Alberto Palomarez sold 2,850 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the transaction, the director now owns 10,666 shares in the company, valued at approximately $1,137,742.22. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in MasTec by 5.6% during the third quarter. Victory Capital Management Inc. now owns 10,722 shares of the construction company’s stock worth $772,000 after buying an additional 565 shares in the last quarter. Barclays PLC grew its holdings in shares of MasTec by 66.8% during the 3rd quarter. Barclays PLC now owns 61,945 shares of the construction company’s stock worth $4,456,000 after purchasing an additional 24,816 shares in the last quarter. New York Life Investment Management LLC grew its holdings in shares of MasTec by 120.5% during the 3rd quarter. New York Life Investment Management LLC now owns 6,724 shares of the construction company’s stock worth $484,000 after purchasing an additional 3,674 shares in the last quarter. Amalgamated Bank increased its position in shares of MasTec by 6.3% in the third quarter. Amalgamated Bank now owns 41,693 shares of the construction company’s stock worth $3,001,000 after purchasing an additional 2,464 shares during the period. Finally, Swiss National Bank raised its stake in MasTec by 1.1% in the third quarter. Swiss National Bank now owns 138,700 shares of the construction company’s stock valued at $9,982,000 after purchasing an additional 1,500 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Performance

Shares of MTZ stock opened at $107.80 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. The company’s 50 day moving average price is $100.53 and its two-hundred day moving average price is $84.00. The company has a market capitalization of $8.57 billion, a P/E ratio of -770.00 and a beta of 1.67.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.33. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. On average, analysts expect that MasTec will post 2.58 earnings per share 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.