MasTec (NYSE:MTZ) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of MasTec (NYSE:MTZ) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Wolfe Research started coverage on shares of MasTec in a research note on Monday, March 31st. They set a “peer perform” rating on the stock. KeyCorp raised their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Citigroup raised their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Truist Financial dropped their target price on MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and an average price target of $156.00.

MasTec Price Performance

NYSE MTZ opened at $106.45 on Monday. The firm’s fifty day simple moving average is $126.64 and its two-hundred day simple moving average is $133.22. The firm has a market capitalization of $8.44 billion, a P/E ratio of 95.04 and a beta of 1.62. 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 has a 12-month low of $82.29 and a 12-month high of $166.95.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) 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%. Analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently bought and sold shares of MTZ. State Street Corp raised its stake in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares during the period. Hood River Capital Management LLC raised its position in MasTec by 3.5% during the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock worth $208,444,000 after acquiring an additional 51,531 shares during the period. Geode Capital Management LLC raised its position in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after acquiring an additional 16,844 shares during the period. AQR Capital Management LLC lifted its holdings in MasTec by 13.3% during the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock valued at $106,117,000 after purchasing an additional 91,564 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of MasTec by 137.6% in 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 purchasing an additional 363,502 shares during the period. Hedge funds and other institutional investors 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.