Guggenheim Reaffirms “Buy” Rating for MasTec (NYSE:MTZ)

MasTec (NYSE:MTZ)‘s stock had its “buy” rating reiterated by Guggenheim in a research note issued on Tuesday,Benzinga reports. They currently have a $195.00 price target on the construction company’s stock. Guggenheim’s price objective points to a potential upside of 50.19% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Barclays upped their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Truist Financial increased their target price on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup boosted their price target on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, B. Riley restated a “buy” rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Stock Down 1.4 %

MTZ stock traded down $1.85 during midday trading on Tuesday, reaching $129.84. 69,758 shares of the company’s stock traded hands, compared to its average volume of 1,195,458. MasTec has a 52 week low of $82.29 and a 52 week high of $166.95. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 115.93 and a beta of 1.74. The firm’s fifty day moving average price is $135.32 and its 200-day moving average price is $133.09. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last posted 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. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, sell-side analysts forecast that MasTec will post 3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTZ. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its stake in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec in the 3rd quarter valued at approximately $25,000. Finally, Smartleaf Asset Management LLC increased its position in shares of MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after purchasing an additional 128 shares during the last quarter. 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.