MasTec (NYSE:MTZ) Price Target Raised to $130.00 at Barclays

MasTec (NYSE:MTZ) had its target price hoisted by Barclays from $106.00 to $130.00 in a research report report published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group upped their price objective on MasTec from $54.00 to $61.00 and gave the company a neutral rating in a research report on Friday, February 9th. Robert W. Baird upped their price objective on MasTec from $89.00 to $110.00 and gave the company a neutral rating in a research report on Monday. UBS Group increased their price target on shares of MasTec from $89.00 to $92.00 and gave the stock a buy rating in a research report on Friday, February 2nd. KeyCorp boosted their price objective on shares of MasTec from $104.00 to $113.00 and gave the company an overweight rating in a research report on Monday. Finally, Citigroup lifted their price objective on MasTec from $99.00 to $104.00 and gave the company a buy rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, MasTec currently has an average rating of Moderate Buy and an average target price of $107.23.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $106.03 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $88.63 and a two-hundred day simple moving average of $73.39. MasTec has a 12-month low of $44.65 and a 12-month high of $123.33.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative net margin of 0.09% and a positive return on equity of 6.19%. As a group, equities research analysts expect that MasTec will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On MasTec

Several large investors have recently modified their holdings of MTZ. Nordea Investment Management AB lifted its position in MasTec by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after buying an additional 1,027,085 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of MasTec by 44,834.1% in the 3rd quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock worth $57,434,000 after acquiring an additional 796,253 shares during the last quarter. Norges Bank bought a new position in MasTec during the 4th quarter valued at about $46,970,000. Point72 Asset Management L.P. raised its position in MasTec by 96.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after purchasing an additional 502,039 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its stake in MasTec by 7,110.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock worth $25,848,000 after purchasing an additional 354,163 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.