MasTec (NYSE:MTZ) Given Buy Rating at Guggenheim

Guggenheim reiterated their buy rating on shares of MasTec (NYSE:MTZ) in a research report released on Tuesday,Benzinga reports. Guggenheim currently has a $195.00 price target on the construction company’s stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their target price on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Truist Financial increased their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays lifted their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, B. Riley reissued 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $160.07.

MasTec Stock Performance

NYSE:MTZ opened at $128.46 on Tuesday. The stock has a market cap of $10.19 billion, a P/E ratio of 114.70 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $134.87 and its two-hundred day moving average price is $133.31. MasTec has a twelve month low of $82.29 and a twelve month high of $166.95.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating 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 business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities analysts predict that MasTec will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On MasTec

Several large investors have recently made changes to their positions in MTZ. New York State Teachers Retirement System boosted its stake in 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 worth $4,398,000 after purchasing an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares during the last quarter. Atom Investors LP lifted its stake in shares of MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after buying an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC grew 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 valued at $2,433,000 after buying an additional 13,241 shares during the last quarter. Finally, State Street Corp increased its position in shares of MasTec by 1.4% during the third 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. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.