MasTec (NYSE:MTZ) PT Raised to $110.00

MasTec (NYSE:MTZ) had its price target hoisted by research analysts at TD Cowen from $105.00 to $110.00 in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the construction company’s stock. TD Cowen’s price target points to a potential upside of 4.10% from the company’s previous close.

Several other research firms have also recently issued reports on MTZ. UBS Group raised their price target on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays raised their price target on shares of MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Robert W. Baird raised their price target on shares of MasTec from $70.00 to $89.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. DA Davidson reaffirmed a “buy” rating and set a $70.00 price target on shares of MasTec in a research note on Monday, March 4th. Finally, 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 price target on the stock. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.08.

MasTec Stock Performance

NYSE:MTZ opened at $105.67 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $89.26 and a two-hundred day moving average price of $73.70. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a market capitalization of $8.40 billion, a P/E ratio of -754.79 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. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. As a group, research analysts expect that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTZ. Quarry LP acquired a new position in MasTec during the fourth quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new position in MasTec during the third quarter valued at approximately $41,000. Itau Unibanco Holding S.A. acquired a new position in MasTec during the third quarter valued at approximately $43,000. CWM LLC lifted its position in MasTec by 59.4% during the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after buying an additional 312 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position 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 buying an additional 212 shares in the last quarter. 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.