MasTec (NYSE:MTZ) Given New $167.00 Price Target at Citigroup

MasTec (NYSE:MTZ) had its target price increased by Citigroup from $156.00 to $167.00 in a report issued on Monday,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also issued reports on the company. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Stifel Nicolaus raised their price objective on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Guggenheim assumed coverage on MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective for the company. Truist Financial raised their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Craig Hallum raised their price objective on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and an average price target of $159.07.

MasTec Stock Performance

Shares of NYSE MTZ opened at $127.56 on Monday. The stock has a fifty day moving average price of $141.60 and a two-hundred day moving average price of $131.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market cap of $10.11 billion, a P/E ratio of 113.89 and a beta of 1.73. MasTec has a 1 year low of $82.29 and a 1 year high of $166.95.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Research analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares during the period. Colonial Trust Co SC boosted its position in shares of MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 141 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the third quarter worth $25,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Company Profile

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.