TD Cowen Raises MasTec (NYSE:MTZ) Price Target to $110.00

MasTec (NYSE:MTZ) had its target price boosted by TD Cowen from $105.00 to $110.00 in a research note released on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the construction company’s stock.

MTZ has been the topic of a number of other research reports. Barclays boosted their price target on MasTec from $55.00 to $106.00 and gave the stock an overweight rating in a research report on Tuesday, March 5th. The Goldman Sachs Group increased their price target on MasTec from $54.00 to $61.00 and gave the company a neutral rating in a research note on Friday, February 9th. UBS Group lifted their price objective on shares of MasTec from $89.00 to $92.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Truist Financial began coverage on shares of MasTec in a report on Thursday, March 14th. They issued a hold rating and a $96.00 price objective on the stock. Finally, Craig Hallum upgraded shares of MasTec from a hold rating to a buy rating and raised their target price for the stock from $50.00 to $96.00 in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $111.08.

MasTec Stock Down 0.5 %

Shares of MTZ stock opened at $105.17 on Monday. The firm’s fifty day moving average price is $89.87 and its two-hundred day moving average price is $73.92. MasTec has a 1 year low of $44.65 and a 1 year high of $123.33. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $8.36 billion, a P/E ratio of -751.21 and a beta of 1.61.

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, topping the consensus estimate 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. On average, equities analysts predict that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. grew its holdings in shares of MasTec by 4.5% during the 1st 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 in the last quarter. Motley Fool Asset Management LLC bought a new stake in MasTec during the first quarter worth about $451,000. Russell Investments Group Ltd. grew its stake in MasTec by 139.0% during the first 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 in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in MasTec in the 1st quarter valued at about $785,000. Finally, Hyman Charles D bought a new position in MasTec in the 1st quarter valued at about $210,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.