MasTec (NYSE:MTZ) Upgraded to "Strong-Buy" at Piper Sandler

MasTec (NYSE:MTZ - Get Free Report) was upgraded by equities researchers at Piper Sandler to a "strong-buy" rating in a research report issued to clients and investors on Monday, April 7th,Zacks.com reports.

A number of other research firms have also recently weighed in on MTZ. Citigroup upped their target price on shares of MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Wolfe Research began coverage on MasTec in a research report on Monday, March 31st. They set a "peer perform" rating for the company. JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Barclays boosted their target price 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. Finally, Guggenheim reissued a "buy" rating and set a $195.00 price target on shares of MasTec in a report on Tuesday, March 25th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $153.87.

MasTec Stock Up 0.3 %

Shares of MasTec stock traded up $0.35 during midday trading on Monday, reaching $117.33. 149,694 shares of the company's stock traded hands, compared to its average volume of 932,389. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 104.76 and a beta of 1.62. MasTec has a 52 week low of $82.29 and a 52 week high of $166.95. The company's 50 day simple moving average is $124.67 and its 200 day simple moving average is $133.08. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

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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 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. Equities analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction 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 sale, the director now directly 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 document filed with the SEC, which is accessible through the SEC website. 21.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. New York State Teachers Retirement System grew its position in shares of MasTec by 21.7% in the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company's stock valued at $4,398,000 after purchasing an additional 5,750 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock worth $3,880,000 after acquiring an additional 8,948 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of MasTec by 286.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock worth $2,433,000 after acquiring an additional 13,241 shares during the period. State Street Corp lifted its position in MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after acquiring an additional 24,522 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in MasTec in the 4th quarter worth $415,000. 78.10% of the stock is 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.