Guggenheim Reaffirms Buy Rating for MasTec (NYSE:MTZ)

Guggenheim reissued their buy rating on shares of MasTec (NYSE:MTZ) in a report issued on Tuesday morning,Benzinga reports. Guggenheim currently has a $195.00 price objective on the construction company’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup boosted 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. Barclays upped their price objective on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Robert W. Baird cut their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Stifel Nicolaus lowered their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Truist Financial lifted their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Price Performance

Shares of NYSE MTZ opened at $118.70 on Tuesday. The company has a market cap of $9.41 billion, a PE ratio of 105.98 and a beta of 1.74. MasTec has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The business has a 50-day simple moving average of $133.53 and a two-hundred day simple moving average of $133.14.

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

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in MasTec during the third quarter worth about $25,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 116 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after buying an additional 128 shares during the last quarter. 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.