MasTec, Inc. (NYSE:MTZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MasTec, Inc. (NYSE:MTZ) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $96.46.

A number of brokerages have commented on MTZ. Barclays lifted their price target on MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Citigroup lifted their price target on MasTec from $74.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Robert W. Baird lifted their price target on MasTec from $70.00 to $89.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Truist Financial assumed coverage on MasTec in a research note on Thursday, March 14th. They set a “hold” rating and a $96.00 target price on the stock. Finally, TD Cowen boosted their target price on MasTec from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 4th.

Institutional Investors Weigh In On MasTec

Several hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in MasTec by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 15,124 shares of the construction company’s stock worth $960,000 after acquiring an additional 132 shares in the last quarter. Covestor Ltd boosted its holdings in MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock worth $44,000 after acquiring an additional 145 shares in the last quarter. MONECO Advisors LLC boosted its holdings in MasTec by 4.8% in the fourth quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after acquiring an additional 150 shares in the last quarter. Sheets Smith Wealth Management boosted its holdings in MasTec by 0.9% in the third quarter. Sheets Smith Wealth Management now owns 20,160 shares of the construction company’s stock worth $1,451,000 after acquiring an additional 185 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in MasTec by 7.9% in the first quarter. Belpointe Asset Management LLC now owns 2,541 shares of the construction company’s stock worth $240,000 after acquiring an additional 185 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Performance

NYSE:MTZ opened at $83.40 on Friday. The business has a 50 day moving average of $84.19 and a 200 day moving average of $71.39. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of -126.36 and a beta of 1.62. MasTec has a 1-year low of $44.65 and a 1-year high of $123.33. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. On average, sell-side analysts predict that MasTec will post 2.33 earnings per share for the current fiscal year.

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.