MasTec (NYSE:MTZ) Earns Peer Perform Rating from Analysts at Wolfe Research

Stock analysts at Wolfe Research began coverage on shares of MasTec (NYSE:MTZ - Get Free Report) in a research report issued on Monday, MarketBeat reports. The firm set a "peer perform" rating on the construction company's stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Stifel Nicolaus decreased their price target on MasTec from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. KeyCorp raised their target price on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. Finally, B. Riley reaffirmed a "buy" rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $160.07.

MasTec Price Performance

MasTec stock traded down $6.56 during mid-day trading on Monday, hitting $105.45. 811,404 shares of the company were exchanged, compared to its average volume of 912,181. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec has a 12-month low of $82.29 and a 12-month high of $166.95. The business's 50 day simple moving average is $129.42 and its two-hundred day simple moving average is $133.49. The company has a market capitalization of $8.36 billion, a P/E ratio of 94.04 and a beta of 1.74.

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MasTec (NYSE:MTZ - Get Free Report) 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 net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. Analysts forecast that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the 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 sale, the director now owns 23,000 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 21.30% of the company's stock.

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc raised its stake in shares of MasTec by 95.9% during the first quarter. Versant Capital Management Inc now owns 1,348 shares of the construction company's stock valued at $157,000 after purchasing an additional 660 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings 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 worth $1,819,000 after buying an additional 4,203 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in MasTec by 1.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,395 shares of the construction company's stock valued at $1,824,000 after buying an additional 236 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in MasTec in the 4th quarter valued at about $3,036,000. Finally, Forum Financial Management LP grew its stake in shares of MasTec by 23.8% during the fourth quarter. Forum Financial Management LP now owns 2,019 shares of the construction company's stock valued at $275,000 after acquiring an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

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.