MasTec’s (MTZ) “Buy” Rating Reiterated at B. Riley

B. Riley reissued their buy rating on shares of MasTec (NYSE:MTZ) in a research report report published on Thursday, Benzinga reports. They currently have a $132.00 price objective on the construction company’s stock.

Several other research analysts have also issued reports on the stock. Stifel Nicolaus increased their target price on shares of MasTec from $100.00 to $120.00 and gave the stock a buy rating in a research note on Monday, May 6th. Truist Financial restated a hold rating and issued a $109.00 target price (up from $96.00) on shares of MasTec in a research note on Monday, May 6th. DA Davidson upped their price target on MasTec from $100.00 to $120.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Robert W. Baird raised their price objective on MasTec from $89.00 to $110.00 and gave the company a neutral rating in a research note on Monday, May 6th. Finally, Craig Hallum upped their target price on MasTec from $96.00 to $125.00 and gave the stock a buy rating in a research report on Monday, May 6th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $116.23.

MasTec Stock Performance

MTZ stock opened at $109.24 on Thursday. The firm has a market cap of $8.68 billion, a PE ratio of -780.29 and a beta of 1.67. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average price of $104.40 and a 200-day moving average price of $86.94. MasTec has a 1-year low of $44.65 and a 1-year high of $123.33.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently made changes to their positions in MTZ. Quarry LP bought a new stake in MasTec in the fourth quarter worth about $37,000. Itau Unibanco Holding S.A. bought a new stake in shares of MasTec in the 3rd quarter worth approximately $43,000. Bessemer Group Inc. lifted its stake in MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares during the last quarter. CWM LLC lifted its stake in MasTec by 59.4% in the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after purchasing an additional 312 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in MasTec by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after purchasing an additional 212 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.