Brokerages Set MasTec, Inc. (NYSE:MTZ) PT at $96.46

Shares of MasTec, Inc. (NYSE:MTZ) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $96.46.

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. KeyCorp upped their target price on shares of MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Barclays upped their price objective on shares of MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Truist Financial began coverage on shares of MasTec in a research note on Thursday, March 14th. They set a “hold” rating and a $96.00 target price for the company. Finally, TD Cowen increased their target price on shares of MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in MasTec in the 4th quarter valued at about $37,000. Covestor Ltd boosted its holdings in MasTec by 40.1% in the 1st quarter. Covestor Ltd now owns 507 shares of the construction company’s stock worth $44,000 after acquiring an additional 145 shares during the period. CWM LLC boosted its holdings in MasTec by 152.4% in the 3rd quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after acquiring an additional 317 shares during the period. Ronald Blue Trust Inc. boosted its holdings in MasTec by 75.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock worth $39,000 after acquiring an additional 232 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of MasTec in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Up 2.3 %

NYSE:MTZ opened at $93.72 on Monday. The company has a market cap of $7.43 billion, a PE ratio of -142.00 and a beta of 1.60. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $76.67 and its two-hundred day moving average is $70.18.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.37 by $0.20. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. Analysts anticipate that MasTec will post 2.33 EPS for the current year.

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.