Guggenheim Reaffirms “Buy” Rating for MasTec (NYSE:MTZ)

MasTec (NYSE:MTZ)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a report released on Tuesday,Benzinga reports. They presently have a $195.00 price objective on the construction company’s stock. Guggenheim’s price objective would indicate a potential upside of 58.85% from the company’s previous close.

Several other research firms have also recently commented on MTZ. B. Riley restated a “buy” rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Stifel Nicolaus reduced their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Robert W. Baird dropped their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Barclays increased their target price on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, KeyCorp lifted their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Stock Performance

NYSE MTZ opened at $122.75 on Tuesday. The firm has a market cap of $9.73 billion, a P/E ratio of 109.60 and a beta of 1.74. MasTec has a 52-week low of $82.29 and a 52-week high of $166.95. The business’s 50-day moving average price is $134.26 and its 200 day moving average price is $133.24. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share 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 company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts expect that MasTec will post 3.44 earnings per share for the current year.

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 21.30% of the stock is currently owned by insiders.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently made changes to their positions in MTZ. Wealth Enhancement Advisory Services LLC raised its stake in MasTec by 45.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,360 shares of the construction company’s stock valued at $1,819,000 after purchasing an additional 4,203 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of MasTec by 1.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,395 shares of the construction company’s stock worth $1,824,000 after purchasing an additional 236 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of MasTec during the fourth quarter worth $3,036,000. Forum Financial Management LP grew its position in shares of MasTec by 23.8% in the fourth quarter. Forum Financial Management LP now owns 2,019 shares of the construction company’s stock valued at $275,000 after purchasing an additional 388 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in MasTec in the fourth quarter valued at $49,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.