StockNews.com Upgrades MasTec (NYSE:MTZ) to Buy

StockNews.com upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a report released on Monday morning.

Several other research firms have also issued reports on MTZ. The Goldman Sachs Group raised their target price on MasTec from $54.00 to $61.00 and gave the company a neutral rating in a research report on Friday, February 9th. Stifel Nicolaus raised their price objective on MasTec from $100.00 to $120.00 and gave the company a buy rating in a report on Monday. KeyCorp upped their target price on MasTec from $104.00 to $113.00 and gave the stock an overweight rating in a research note on Monday. TD Cowen increased their target price on MasTec from $105.00 to $110.00 and gave the company a buy rating in a research report on Monday. Finally, Truist Financial reissued a hold rating and issued a $109.00 price target (up previously from $96.00) on shares of MasTec in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $111.08.

MasTec Stock Up 0.3 %

Shares of MTZ stock opened at $105.55 on Monday. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The stock has a market cap of $8.39 billion, a P/E ratio of -753.93 and a beta of 1.61. The stock has a 50 day moving average of $90.47 and a 200 day moving average of $74.14. 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 (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. As a group, sell-side analysts expect that MasTec will post 2.33 EPS for the current year.

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently bought and sold shares of MTZ. Vanguard Group Inc. boosted its holdings in shares of MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock worth $429,670,000 after purchasing an additional 33,592 shares during the last quarter. Nordea Investment Management AB boosted its stake in MasTec by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after buying an additional 1,027,085 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 valued at $263,271,000 after buying an additional 17,369 shares in the last quarter. Electron Capital Partners LLC increased its stake in shares of MasTec by 16.1% in the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after acquiring an additional 238,874 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of 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 acquiring an additional 312,991 shares during the period. 78.10% of the stock is currently 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.