Robert W. Baird Raises MasTec (NYSE:MTZ) Price Target to $110.00

MasTec (NYSE:MTZ) had its price target upped by Robert W. Baird from $89.00 to $110.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other research analysts have also issued reports about the stock. Truist Financial began coverage on shares of MasTec in a research report on Thursday, March 14th. They set a hold rating and a $96.00 price target for the company. Citigroup upped their target price on MasTec from $99.00 to $104.00 and gave the stock a buy rating in a research note on Monday, April 22nd. The Goldman Sachs Group lifted their price target on MasTec from $54.00 to $61.00 and gave the company a neutral rating in a research report on Friday, February 9th. UBS Group raised their target price on shares of MasTec from $89.00 to $92.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, TD Cowen lifted their target price on shares of MasTec from $105.00 to $110.00 and gave the company a buy rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $111.08.

MasTec Stock Down 0.5 %

Shares of 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 company has a market cap of $8.36 billion, a P/E ratio of -751.21 and a beta of 1.61. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. The business has a 50-day simple moving average of $89.87 and a two-hundred day simple moving average of $73.92.

MasTec (NYSE:MTZ) last announced its quarterly 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. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. Research analysts anticipate that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several institutional investors have recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of MasTec by 4.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 230,000 shares of the construction company’s stock worth $21,448,000 after purchasing an additional 10,000 shares during the period. Motley Fool Asset Management LLC purchased a new stake in MasTec in the 1st quarter worth approximately $451,000. Russell Investments Group Ltd. grew its position in shares of MasTec by 139.0% in the 1st quarter. Russell Investments Group Ltd. now owns 60,406 shares of the construction company’s stock worth $5,633,000 after buying an additional 35,130 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of MasTec during the first quarter valued at approximately $785,000. Finally, Hyman Charles D bought a new position in shares of MasTec during the first quarter valued at approximately $210,000. 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.