MasTec (NYSE:MTZ) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of MasTec (NYSE:MTZ – Get Rating) in a report published on Thursday. The firm issued a hold rating on the construction company’s stock.

MTZ has been the topic of a number of other research reports. Barclays raised their price objective on shares of MasTec from $100.00 to $115.00 and gave the company an overweight rating in a research note on Friday, January 13th. B. Riley raised their target price on shares of MasTec from $112.00 to $114.00 and gave the stock a buy rating in a report on Tuesday, February 28th. Cowen reduced their target price on shares of MasTec from $125.00 to $120.00 in a report on Tuesday, December 27th. Robert W. Baird raised their target price on shares of MasTec from $111.00 to $120.00 and gave the stock an outperform rating in a report on Monday, February 27th. Finally, Cowen reduced their target price on shares of MasTec from $125.00 to $120.00 and set an outperform rating for the company in a report on Tuesday, December 27th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $113.18.

MasTec Price Performance

Shares of NYSE:MTZ opened at $87.09 on Thursday. The firm’s 50 day moving average is $96.39 and its two-hundred day moving average is $86.58. MasTec has a 52 week low of $62.36 and a 52 week high of $103.50. The firm has a market capitalization of $6.85 billion, a P/E ratio of 207.36 and a beta of 1.39. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 1.11.

MasTec (NYSE:MTZ – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The construction company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. MasTec had a net margin of 0.34% and a return on equity of 8.30%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.92 billion. Analysts anticipate that MasTec will post 4.48 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in MasTec by 2.4% in the 1st quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company’s stock worth $489,168,000 after purchasing an additional 134,201 shares during the period. Vanguard Group Inc. grew its position in MasTec by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock worth $480,724,000 after purchasing an additional 447,376 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of MasTec by 7.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,306,580 shares of the construction company’s stock valued at $209,967,000 after acquiring an additional 219,922 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of MasTec by 2.8% during the 2nd quarter. Nordea Investment Management AB now owns 3,249,236 shares of the construction company’s stock valued at $228,421,000 after acquiring an additional 89,184 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of MasTec by 1.1% during the 2nd quarter. Macquarie Group Ltd. now owns 2,372,108 shares of the construction company’s stock valued at $169,985,000 after acquiring an additional 25,878 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

MasTec Company Profile

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MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.