MasTec (NYSE:MTZ) Price Target Raised to $104.00 at Citigroup

MasTec (NYSE:MTZ) had its price objective upped by Citigroup from $99.00 to $104.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective suggests a potential upside of 20.16% from the company’s current price.

MTZ has been the topic of several other research reports. KeyCorp lifted their target price on shares of MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Craig Hallum upgraded shares of MasTec from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $96.00 in a report on Monday, March 4th. Robert W. Baird upped their target price on shares of MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. TD Cowen upped their target price on shares of MasTec from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Finally, DA Davidson restated a “buy” rating and issued a $70.00 target price on shares of MasTec in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.85.

MasTec Stock Up 3.3 %

Shares of NYSE MTZ opened at $86.55 on Monday. MasTec has a 52-week low of $44.65 and a 52-week high of $123.33. The firm has a fifty day moving average of $84.67 and a 200-day moving average of $71.66. The stock has a market capitalization of $6.88 billion, a PE ratio of -131.14 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.06.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. On average, analysts anticipate that MasTec will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MasTec

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of MasTec by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after acquiring an additional 33,592 shares in the last quarter. Nordea Investment Management AB lifted its position in MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after buying an additional 1,027,085 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in MasTec by 0.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock worth $263,271,000 after buying an additional 17,369 shares in the last quarter. Electron Capital Partners LLC lifted its position 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 worth $130,633,000 after buying an additional 238,874 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position 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 worth $78,890,000 after buying an additional 312,991 shares in the last quarter. Hedge funds and other institutional investors 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.