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

MasTec (NYSE:MTZ) had its target price boosted by equities research analysts at Stifel Nicolaus from $100.00 to $120.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 13.56% from the stock’s current price.

Several other research analysts also recently weighed in on MTZ. Barclays boosted their price target on MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. DA Davidson reiterated a “buy” rating and issued a $70.00 target price on shares of MasTec in a research note on Monday, March 4th. Truist Financial reissued a “hold” rating and issued a $109.00 price target (up from $96.00) on shares of MasTec in a research note on Monday. TD Cowen upped their price objective on shares of MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday. Finally, KeyCorp raised 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $111.08.

MasTec Stock Down 0.1 %

Shares of NYSE:MTZ opened at $105.67 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 company has a market capitalization of $8.40 billion, a P/E ratio of -754.79 and a beta of 1.61. MasTec has a 52-week low of $44.65 and a 52-week high of $123.33. The stock’s fifty day simple moving average is $89.26 and its 200-day simple moving average is $73.70.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of MasTec by 0.6% in the third quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock worth $429,670,000 after buying an additional 33,592 shares during the period. Nordea Investment Management AB boosted its holdings 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 acquiring an additional 1,027,085 shares during the period. Allspring Global Investments Holdings LLC grew its position in MasTec by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock valued at $263,271,000 after acquiring an additional 17,369 shares in the last quarter. Electron Capital Partners LLC raised its stake in shares of MasTec by 16.1% during the fourth 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 raised its stake in shares of MasTec by 42.9% during the fourth 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 owned by hedge funds and other institutional investors.

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.