MasTec (NYSE:MTZ) PT Raised to $110.00

MasTec (NYSE:MTZ) had its price objective increased by Robert W. Baird from $89.00 to $110.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other equities research analysts have also commented on MTZ. Truist Financial initiated coverage on MasTec in a research report on Thursday, March 14th. They issued a hold rating and a $96.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of MasTec from $54.00 to $61.00 and gave the company a neutral rating in a research report on Friday, February 9th. Barclays upped their price objective on shares of MasTec from $55.00 to $106.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. Citigroup raised their target price on MasTec from $99.00 to $104.00 and gave the company a buy rating in a research report on Monday, April 22nd. Finally, DA Davidson reaffirmed a buy rating and issued a $70.00 price target on shares of MasTec in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $111.08.

MasTec Trading Up 0.3 %

Shares of MasTec stock opened at $105.55 on Monday. The stock has a market cap of $8.39 billion, a PE ratio of -753.93 and a beta of 1.61. The firm has a fifty day moving average price of $90.47 and a 200 day moving average price of $74.14. MasTec has a 1 year low of $44.65 and a 1 year high of $123.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Equities research analysts predict that MasTec will post 2.33 earnings per share for the current year.

Institutional Trading of MasTec

A number of institutional investors have recently made changes to their positions in MTZ. Vontobel Holding Ltd. grew its stake in MasTec by 16.2% during the 4th quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock valued at $78,454,000 after acquiring an additional 144,180 shares in the last quarter. Vanguard Group Inc. grew its position in shares of MasTec by 0.6% in the third quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after purchasing an additional 33,592 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of MasTec in the fourth quarter valued at approximately $883,000. Nordea Investment Management AB lifted its position in MasTec by 35.0% during 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 in the last quarter. Finally, Sycomore Asset Management purchased a new position in MasTec during the fourth quarter worth approximately $965,000. 78.10% of the stock is 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.