MasTec (NYSE:MTZ) Upgraded to Buy by StockNews.com

MasTec (NYSE:MTZ) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other research firms have also recently weighed in on MTZ. Citigroup boosted their price target on MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Barclays upped their target price on MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. Stifel Nicolaus upped their target price on MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group upped their target price on MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Craig Hallum upped their target price on MasTec from $96.00 to $125.00 and gave the company a “buy” rating 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.23.

MasTec Trading Up 4.0 %

Shares of NYSE:MTZ traded up $4.06 during midday trading on Monday, hitting $105.86. 1,388,587 shares of the stock were exchanged, compared to its average volume of 931,330. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of -756.14 and a beta of 1.61. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The business’s 50-day moving average price is $88.63 and its 200 day moving average price is $73.39. MasTec has a 12 month low of $44.65 and a 12 month high of $123.33.

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

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in 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 buying an additional 33,592 shares during the last quarter. Nordea Investment Management AB raised its position in MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after buying an additional 1,027,085 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 during the last quarter. Electron Capital Partners LLC raised its position in MasTec by 16.1% in 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 buying an additional 238,874 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after buying an additional 312,991 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.