MasTec (NYSE:MTZ) Rating Reiterated by B. Riley

B. Riley restated their buy rating on shares of MasTec (NYSE:MTZ) in a research report released on Thursday, Benzinga reports. B. Riley currently has a $132.00 price objective on the construction company’s stock.

Several other brokerages also recently commented on MTZ. Truist Financial restated a hold rating and set a $109.00 target price (up from $96.00) on shares of MasTec in a report on Monday, May 6th. Citigroup lifted their price objective on shares of MasTec from $99.00 to $104.00 and gave the company a buy rating in a report on Monday, April 22nd. Craig Hallum lifted their price objective on shares of MasTec from $96.00 to $125.00 and gave the company a buy rating in a report on Monday, May 6th. StockNews.com upgraded shares of MasTec from a hold rating to a buy rating in a report on Monday, May 6th. Finally, Robert W. Baird lifted their price objective on shares of MasTec from $89.00 to $110.00 and gave the company a neutral rating in a report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $116.23.

MasTec Stock Performance

Shares of MTZ stock opened at $106.99 on Thursday. 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 company has a market capitalization of $8.50 billion, a P/E ratio of -764.21 and a beta of 1.67. The company’s 50 day moving average price is $104.85 and its two-hundred day moving average price is $87.36. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, May 2nd. The construction company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.33. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.62 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. On average, analysts expect that MasTec will post 2.58 earnings per share for the current fiscal year.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at $5,579,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other MasTec news, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 50,725 shares of the company’s stock, valued at $5,579,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Javier Alberto Palomarez sold 2,850 shares of MasTec stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.67, for a total transaction of $304,009.50. Following the transaction, the director now directly owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasTec

Institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its position in shares of MasTec by 96.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after acquiring an additional 502,039 shares during the period. Vontobel Holding Ltd. boosted its position in shares of MasTec by 16.2% in the fourth quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock valued at $78,454,000 after acquiring an additional 144,180 shares during the period. Pinebridge Investments L.P. boosted its position in shares of MasTec by 25.6% in the fourth quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock valued at $8,004,000 after acquiring an additional 21,564 shares during the period. 1492 Capital Management LLC bought a new stake in shares of MasTec in the fourth quarter valued at about $1,059,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of MasTec by 5.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock valued at $25,975,000 after acquiring an additional 18,402 shares during the period. Institutional investors own 78.10% of the company’s stock.

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.