MasTec (NYSE:MTZ) PT Raised to $120.00 at DA Davidson

MasTec (NYSE:MTZ) had its price objective boosted by DA Davidson from $100.00 to $120.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s price objective points to a potential upside of 14.10% from the stock’s previous close. DA Davidson also issued estimates for MasTec’s Q2 2024 earnings at $0.79 EPS, FY2024 earnings at $2.59 EPS and FY2025 earnings at $4.21 EPS.

A number of other equities research analysts have also issued reports on the stock. Craig Hallum boosted their price target on shares of MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a report on Monday. B. Riley increased their target price on MasTec from $104.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Truist Financial reiterated a “hold” rating and set a $109.00 price target (up previously from $96.00) on shares of MasTec in a report on Monday. Stifel Nicolaus raised their price objective on MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. Finally, TD Cowen upped their target price on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average price target of $111.08.

MasTec Stock Down 0.5 %

MTZ stock opened at $105.17 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a market cap of $8.36 billion, a PE ratio of -751.21 and a beta of 1.61. MasTec has a 12 month low of $44.65 and a 12 month high of $123.33. The firm has a 50 day simple moving average of $89.87 and a 200 day simple moving average of $73.92.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.26 billion. Equities research analysts forecast that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently bought and sold shares of MTZ. Vanguard Group Inc. boosted its stake in MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after purchasing an additional 33,592 shares during the period. Nordea Investment Management AB increased its position in MasTec by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after acquiring an additional 1,027,085 shares during the period. Allspring Global Investments Holdings LLC raised its stake in MasTec by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock valued at $263,271,000 after purchasing an additional 17,369 shares during the last quarter. Electron Capital Partners LLC boosted its holdings in MasTec by 16.1% in the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after purchasing an additional 238,874 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its holdings in MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares during the period. 78.10% of the stock is currently owned by institutional investors.

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.