MasTec (NYSE:MTZ) Given “Buy” Rating at B. Riley

MasTec (NYSE:MTZ)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $165.00 price objective on the construction company’s stock, up from their prior price objective of $151.00. B. Riley’s target price would indicate a potential upside of 31.66% from the company’s current price.

MTZ has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Guggenheim started coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective for the company. Barclays increased their price objective on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Stifel Nicolaus reduced their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, KeyCorp increased their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

MasTec Trading Up 3.1 %

Shares of NYSE MTZ traded up $3.79 during mid-day trading on Wednesday, hitting $125.32. 208,501 shares of the company traded hands, compared to its average volume of 847,486. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 111.89 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average of $136.79 and a two-hundred day moving average of $132.49.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, sell-side analysts anticipate that MasTec will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTZ. Pacer Advisors Inc. increased its holdings in shares of MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after acquiring an additional 895,227 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of MasTec during the 4th quarter valued at about $59,910,000. First Trust Advisors LP boosted its stake in MasTec by 173.8% during the 4th 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 during the period. Balyasny Asset Management L.P. boosted its stake in MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after purchasing an additional 363,502 shares during the period. Finally, Merewether Investment Management LP bought a new stake in MasTec during the 4th quarter valued at approximately $46,612,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.