MasTec (NYSE:MTZ) Shares Gap Up to $91.00

MasTec, Inc. (NYSE:MTZ)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $91.00, but opened at $101.49. MasTec shares last traded at $103.48, with a volume of 484,546 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MTZ. DA Davidson reaffirmed a “buy” rating and issued a $70.00 target price on shares of MasTec in a research report on Monday, March 4th. Barclays lifted their target price on MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Citigroup increased their price target on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. UBS Group boosted their price objective on shares of MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, KeyCorp increased their target price on shares of MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.85.

MasTec Stock Up 11.9 %

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 business’s fifty day moving average price is $87.95 and its two-hundred day moving average price is $73.05. The firm has a market cap of $8.09 billion, a P/E ratio of -727.14 and a beta of 1.61.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a positive return on equity of 6.18% and a negative net margin of 0.09%. As a group, equities research analysts anticipate that MasTec, Inc. will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MasTec

A number of large investors have recently added to or reduced their stakes in MTZ. Quarry LP acquired a new stake in shares of MasTec in the fourth quarter worth $37,000. Headlands Technologies LLC acquired a new position in MasTec during the 3rd quarter worth $41,000. Itau Unibanco Holding S.A. bought a new stake in MasTec during the third quarter valued at about $43,000. CWM LLC grew its position in shares of MasTec by 59.4% in the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after purchasing an additional 312 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of MasTec by 30.9% in 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 during 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.