Truist Financial Reaffirms “Hold” Rating for MasTec (NYSE:MTZ)

Truist Financial reiterated their hold rating on shares of MasTec (NYSE:MTZ) in a report released on Monday morning, Benzinga reports. They currently have a $109.00 price objective on the construction company’s stock, up from their previous price objective of $96.00.

Other research analysts have also recently issued reports about the company. Craig Hallum upgraded MasTec from a hold rating to a buy rating and upped their price target for the stock from $50.00 to $96.00 in a research note on Monday, March 4th. The Goldman Sachs Group raised their price objective on MasTec from $54.00 to $61.00 and gave the stock a neutral rating in a report on Friday, February 9th. UBS Group raised their price objective on MasTec from $89.00 to $92.00 and gave the stock a buy rating in a report on Friday, February 2nd. Barclays raised their price target on MasTec from $55.00 to $106.00 and gave the stock an overweight rating in a report on Tuesday, March 5th. Finally, TD Cowen lifted their price objective on MasTec from $105.00 to $110.00 and gave the company a buy rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $111.08.

MasTec Stock Performance

NYSE MTZ opened at $105.17 on Monday. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of -751.21 and a beta of 1.61. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. 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 of $89.87 and a 200 day moving average of $73.92.

MasTec (NYSE:MTZ) last released its quarterly 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 analysts’ expectations of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Sell-side analysts anticipate that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DMC Group LLC grew its position in MasTec by 5.5% in the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after purchasing an additional 147 shares during the last quarter. MONECO Advisors LLC raised its stake in shares of MasTec by 4.8% during the fourth quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after buying an additional 150 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of MasTec by 0.8% during the first quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $2,476,000 after buying an additional 200 shares during the last quarter. 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. Finally, Bridge City Capital LLC grew its holdings in MasTec by 0.8% during the first quarter. Bridge City Capital LLC now owns 33,010 shares of the construction company’s stock valued at $3,078,000 after purchasing an additional 249 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.