MasTec (NYSE:MTZ) Price Target Lowered to $154.00 at Truist Financial

MasTec (NYSE:MTZ - Free Report) had its target price decreased by Truist Financial from $197.00 to $154.00 in a report published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the construction company's stock.

Other analysts have also recently issued research reports about the stock. Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Piper Sandler initiated coverage on MasTec in a report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price target for the company. JPMorgan Chase & Co. upped their target price on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. B. Riley reaffirmed a "buy" rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Finally, Guggenheim reissued a "buy" rating and set a $195.00 price target on shares of MasTec in a research report on Tuesday, March 25th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $153.87.

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MasTec Price Performance

NYSE:MTZ traded up $1.77 during trading hours on Tuesday, hitting $116.83. 817,547 shares of the stock were exchanged, compared to its average volume of 935,435. The company has a market cap of $9.26 billion, a P/E ratio of 104.31 and a beta of 1.62. The firm's fifty day moving average price is $124.67 and its 200 day moving average price is $133.01. MasTec has a 52-week low of $82.29 and a 52-week high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS 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 firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities research analysts anticipate that MasTec will post 3.44 EPS for the current fiscal 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 that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 21.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MasTec

Several hedge funds have recently modified their holdings of MTZ. Arrowstreet Capital Limited Partnership purchased a new stake in MasTec during the 4th quarter worth about $59,910,000. First Trust Advisors LP increased its stake in shares of MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock worth $80,021,000 after buying an additional 373,145 shares during the period. Balyasny Asset Management L.P. raised its holdings in MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Merewether Investment Management LP purchased a new position in MasTec in the fourth quarter worth approximately $46,612,000. Finally, Freestone Grove Partners LP acquired a new position in MasTec during the 4th quarter worth approximately $31,730,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.