B. Riley Boosts MasTec (NYSE:MTZ) Price Target to $120.00

MasTec (NYSE:MTZ) had its price objective lifted by B. Riley from $104.00 to $120.00 in a research report report published on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the construction company’s stock. B. Riley also issued estimates for MasTec’s Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $1.14 EPS, Q4 2024 earnings at $0.88 EPS and FY2025 earnings at $3.64 EPS.

Other research analysts have also issued research reports about the company. Citigroup upped their price objective on MasTec from $99.00 to $104.00 and gave the stock a buy rating in a report on Monday, April 22nd. The Goldman Sachs Group increased their price objective on shares of MasTec from $54.00 to $61.00 and gave the company a neutral rating in a research note on Friday, February 9th. KeyCorp lifted their target price on shares of MasTec from $104.00 to $113.00 and gave the stock an overweight rating in a research report on Monday. UBS Group raised their price objective 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. Finally, Barclays raised their target price on shares of MasTec from $106.00 to $130.00 and gave the stock an overweight rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $111.08.

MasTec Trading Down 0.5 %

Shares of MasTec stock opened at $105.17 on Monday. The company’s fifty day moving average is $89.87 and its two-hundred day moving average is $73.92. MasTec has a 1 year low of $44.65 and a 1 year high of $123.33. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The company has a market capitalization of $8.36 billion, a P/E ratio of -751.21 and a beta of 1.61.

MasTec (NYSE:MTZ) last announced 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 positive return on equity of 6.19% and a negative net margin of 0.09%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Analysts forecast that MasTec will post 2.33 earnings per share for the current year.

Institutional Trading of MasTec

Several large investors have recently modified their holdings of MTZ. DMC Group LLC raised its position in shares of MasTec by 5.5% in the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after purchasing an additional 147 shares in the last quarter. MONECO Advisors LLC increased its position in MasTec by 4.8% in the fourth quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock worth $249,000 after buying an additional 150 shares during the period. New York State Teachers Retirement System increased its holdings in shares of MasTec by 0.8% during the first quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $2,476,000 after purchasing an additional 200 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of 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 purchasing an additional 212 shares during the period. Finally, Bridge City Capital LLC boosted its holdings in shares of MasTec by 0.8% in the first quarter. Bridge City Capital LLC now owns 33,010 shares of the construction company’s stock worth $3,078,000 after buying an additional 249 shares during the period. 78.10% of the stock is currently 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.