MasTec (NYSE:MTZ) PT Raised to $130.00 at Barclays

MasTec (NYSE:MTZ) had its target price hoisted by equities researchers at Barclays from $106.00 to $130.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Barclays‘s target price would suggest a potential upside of 23.02% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. KeyCorp lifted their price objective on MasTec from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday. Craig Hallum boosted their price target on shares of MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial reissued a “hold” rating and issued a $109.00 price objective (up from $96.00) on shares of MasTec in a research report on Monday. TD Cowen lifted their price objective on shares of MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday. Finally, UBS Group increased their target price on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.08.

MasTec Price Performance

Shares of MTZ opened at $105.67 on Monday. The company has a market cap of $8.40 billion, a P/E ratio of -754.79 and a beta of 1.61. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average price is $89.26 and its 200 day moving average price is $73.70.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 6.19% and a negative net margin of 0.09%. On average, research analysts forecast that MasTec will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MasTec

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of MasTec in the 4th quarter valued at about $37,000. Headlands Technologies LLC acquired a new stake in shares of MasTec in the third quarter valued at approximately $41,000. Itau Unibanco Holding S.A. purchased a new position in shares of MasTec during the third quarter worth approximately $43,000. CWM LLC increased its holdings in shares of MasTec by 59.4% in the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after acquiring an additional 312 shares during the period. Finally, Quadrant Capital Group LLC raised its position in MasTec by 30.9% in the 4th 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. Hedge funds and other 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.