MasTec (NYSE:MTZ) Price Target Raised to $104.00

MasTec (NYSE:MTZ) had its price target hoisted by Citigroup from $99.00 to $104.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

MTZ has been the topic of several other research reports. Robert W. Baird raised their price target on shares of MasTec from $70.00 to $89.00 and gave the company a neutral rating in a report on Monday, March 4th. Truist Financial assumed coverage on shares of MasTec in a report on Thursday, March 14th. They issued a hold rating and a $96.00 price target on the stock. Craig Hallum upgraded shares of MasTec from a hold rating to a buy rating and raised their price target for the company from $50.00 to $96.00 in a report on Monday, March 4th. 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 report on Friday, February 9th. Finally, Barclays raised their price target on shares of MasTec from $55.00 to $106.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, MasTec currently has a consensus rating of Moderate Buy and a consensus price target of $96.85.

MasTec Price Performance

NYSE:MTZ opened at $85.18 on Monday. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -129.06 and a beta of 1.62. 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 $84.97 and its two-hundred day moving average is $71.79. 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 data 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. Research analysts expect that MasTec will post 2.33 EPS for the current year.

Institutional Trading of MasTec

A number of hedge funds have recently made changes to their positions in the stock. Muhlenkamp & Co. Inc. grew its position in shares of MasTec by 1.5% during the first quarter. Muhlenkamp & Co. Inc. now owns 132,990 shares of the construction company’s stock worth $12,401,000 after buying an additional 1,981 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in MasTec by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the construction company’s stock worth $1,623,000 after purchasing an additional 400 shares during the period. Kirr Marbach & Co. LLC IN boosted its holdings in MasTec by 0.9% in the first quarter. Kirr Marbach & Co. LLC IN now owns 175,887 shares of the construction company’s stock worth $16,401,000 after purchasing an additional 1,566 shares during the period. DMC Group LLC boosted its holdings in MasTec by 5.5% in the first quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after purchasing an additional 147 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in MasTec by 2.1% in the first quarter. State of Michigan Retirement System now owns 14,839 shares of the construction company’s stock worth $1,384,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds 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.