MasTec (NYSE:MTZ) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of MasTec (NYSE:MTZ - Free Report) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $134.00 target price on the construction company's stock.

MTZ has been the topic of several other reports. Citigroup upped their price target on MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Guggenheim reiterated a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Tuesday, March 25th. Robert W. Baird lowered their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Finally, KeyCorp upped their price objective on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.87.

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MasTec Price Performance

MTZ stock traded up $1.77 during trading on Tuesday, hitting $116.83. The company had a trading volume of 817,547 shares, compared to its average volume of 935,435. MasTec has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 104.31 and a beta of 1.62. The business has a 50 day moving average of $124.67 and a 200 day moving average of $133.01. 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 issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $3.32 billion. As a group, research analysts predict that MasTec will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ernst N. Csiszar sold 2,517 shares of MasTec 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 in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 21.30% of the company's stock.

Institutional Trading of MasTec

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in MasTec in the 3rd quarter valued at $25,000. Ameliora Wealth Management Ltd. bought a new position in MasTec during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in shares of MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares during the period. Colonial Trust Co SC boosted its holdings in shares of MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 141 shares during the period. Finally, Rothschild Investment LLC increased its holdings in MasTec by 2,023.1% during the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. 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.