B. Riley Reaffirms Buy Rating for MasTec (NYSE:MTZ)

B. Riley restated their buy rating on shares of MasTec (NYSE:MTZ) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $165.00 price target on the construction company’s stock, up from their prior price target of $151.00.

A number of other brokerages have also commented on MTZ. Citigroup increased their price objective on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Truist Financial increased their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Robert W. Baird lowered their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus lowered their target price on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.07.

MasTec Stock Performance

Shares of MTZ stock opened at $125.97 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The stock’s 50-day moving average is $136.38 and its two-hundred day moving average is $132.44. The firm has a market cap of $9.99 billion, a P/E ratio of 112.47 and a beta of 1.74.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Analysts predict that MasTec will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MasTec

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in MasTec by 45.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,360 shares of the construction company’s stock valued at $1,819,000 after purchasing an additional 4,203 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in MasTec by 1.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,395 shares of the construction company’s stock valued at $1,824,000 after purchasing an additional 236 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in MasTec in the 4th quarter valued at $3,036,000. Forum Financial Management LP increased its stake in shares of MasTec by 23.8% in the 4th quarter. Forum Financial Management LP now owns 2,019 shares of the construction company’s stock valued at $275,000 after buying an additional 388 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of MasTec in the 4th quarter valued at $49,000. 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.