MasTec (NYSE:MTZ) Given Hold Rating at Truist Financial

Truist Financial reiterated their hold rating on shares of MasTec (NYSE:MTZ) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $109.00 price objective on the construction company’s stock, up from their prior price objective of $96.00.

MTZ has been the topic of several other research reports. KeyCorp boosted their price target on shares of MasTec from $92.00 to $97.00 and gave the company an overweight rating in a research report on Monday, March 4th. UBS Group upped their target price on shares of MasTec from $89.00 to $92.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Robert W. Baird increased their price objective on MasTec from $89.00 to $110.00 and gave the company a neutral rating in a research note on Monday. TD Cowen boosted their price target on shares of MasTec from $105.00 to $110.00 and gave the stock a buy rating in a report on Monday. Finally, DA Davidson reissued a buy rating and issued a $70.00 target price on shares of MasTec in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec currently has an average rating of Moderate Buy and a consensus target price of $107.23.

MasTec Trading Up 0.2 %

NYSE MTZ opened at $106.03 on Monday. The stock has a 50-day simple moving average of $88.63 and a two-hundred day simple moving average of $73.39. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. As a group, equities research analysts forecast that MasTec will post 2.33 earnings per share for the current year.

Institutional Investors Weigh In On MasTec

Several institutional investors and hedge funds have recently modified their holdings of MTZ. Vanguard Group Inc. raised its position in shares of MasTec by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after purchasing an additional 33,592 shares in the last quarter. Nordea Investment Management AB raised its position in shares of MasTec by 35.0% during the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after purchasing an additional 1,027,085 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of MasTec by 0.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock worth $263,271,000 after purchasing an additional 17,369 shares during the last quarter. Electron Capital Partners LLC boosted its position in MasTec by 16.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after purchasing an additional 238,874 shares during the period. Finally, Frontier Capital Management Co. LLC grew its stake in MasTec by 42.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after buying an additional 312,991 shares during 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.