MasTec (NYSE:MTZ) PT Raised to $120.00 at B. Riley

MasTec (NYSE:MTZ) had its price target increased by B. Riley from $104.00 to $120.00 in a report issued on Monday, Benzinga reports. B. Riley currently has a buy rating on the construction company’s stock.

Several other analysts also recently commented on MTZ. TD Cowen increased their price objective on shares of MasTec from $105.00 to $110.00 and gave the company a buy rating in a research report on Monday. Citigroup increased their price target on shares of MasTec from $99.00 to $104.00 and gave the company a buy rating in a report on Monday, April 22nd. Barclays upped their price objective on MasTec from $106.00 to $130.00 and gave the company an overweight rating in a research report on Monday. KeyCorp lifted their target price on MasTec from $104.00 to $113.00 and gave the stock an overweight rating in a report on Monday. Finally, Truist Financial reaffirmed a hold rating and set a $109.00 price objective (up from $96.00) on shares of MasTec in a research report on Monday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $107.23.

MasTec Trading Up 0.2 %

Shares of MTZ opened at $106.03 on Monday. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33. The firm’s 50-day simple moving average is $88.63 and its two-hundred day simple moving average is $73.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Sell-side analysts forecast that MasTec will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in MasTec during the fourth quarter valued at about $37,000. Headlands Technologies LLC bought a new position in shares of MasTec during the 3rd quarter valued at approximately $41,000. Itau Unibanco Holding S.A. bought a new position in shares of MasTec during the 3rd quarter valued at approximately $43,000. CWM LLC increased its holdings in MasTec by 59.4% in the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after acquiring an additional 312 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in MasTec by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after purchasing an additional 212 shares in the last quarter. 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.