MasTec (NYSE:MTZ) Price Target Raised to $120.00 at Stifel Nicolaus

MasTec (NYSE:MTZ) had its target price upped by Stifel Nicolaus from $100.00 to $120.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

MTZ has been the topic of a number of other reports. Truist Financial reiterated a hold rating and issued a $109.00 target price (up from $96.00) on shares of MasTec in a research report on Monday. Citigroup upped their price objective on MasTec from $99.00 to $104.00 and gave the company a buy rating in a research report on Monday, April 22nd. KeyCorp upped their price objective on MasTec from $104.00 to $113.00 and gave the company an overweight rating in a research report on Monday. Barclays upped their price objective on MasTec from $106.00 to $130.00 and gave the company an overweight rating in a research report on Monday. Finally, Craig Hallum upped their price objective on MasTec from $96.00 to $125.00 and gave the company a buy rating in a research report on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $111.08.

MasTec Stock Performance

NYSE MTZ opened at $105.17 on Monday. 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 has a market cap of $8.36 billion, a price-to-earnings ratio of -751.21 and a beta of 1.61. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The business has a 50-day moving average price of $89.87 and a 200-day moving average price of $73.92.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. As a group, equities research analysts predict that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in MasTec in the fourth quarter worth approximately $37,000. Headlands Technologies LLC bought a new stake in MasTec during the 3rd quarter valued at $41,000. Itau Unibanco Holding S.A. bought a new stake in MasTec during the 3rd quarter valued at $43,000. CWM LLC boosted its position in MasTec by 59.4% during 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 in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after acquiring an additional 212 shares in 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.