MasTec (NYSE:MTZ) PT Raised to $130.00

MasTec (NYSE:MTZ) had its price target lifted by research analysts at Barclays from $106.00 to $130.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Barclays‘s target price indicates a potential upside of 22.16% from the company’s current price.

Other analysts have also recently issued research reports about the company. Robert W. Baird lifted their target price on MasTec from $89.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday. The Goldman Sachs Group increased their target price on MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, February 9th. DA Davidson restated a “buy” rating and issued a $70.00 price objective on shares of MasTec in a report on Monday, March 4th. Citigroup raised their price objective on MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Truist Financial reiterated a “hold” rating and set a $109.00 target price (up previously from $96.00) on shares of MasTec in a research note on Monday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.23.

MasTec Stock Up 4.5 %

NYSE MTZ traded up $4.62 on Monday, hitting $106.42. 796,681 shares of the stock were exchanged, compared to its average volume of 924,047. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33. The company has a 50-day moving average price of $87.95 and a 200-day moving average price of $73.09. The company has a market cap of $8.46 billion, a PE ratio of -757.57 and a beta of 1.61. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Sell-side analysts anticipate that MasTec will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently modified their holdings of MTZ. DMC Group LLC boosted its stake in shares of MasTec by 5.5% in the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after purchasing an additional 147 shares in the last quarter. MONECO Advisors LLC lifted its holdings in MasTec by 4.8% during the 4th quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock valued at $249,000 after purchasing an additional 150 shares during the last quarter. New York State Teachers Retirement System boosted its position in MasTec by 0.8% in the first quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $2,476,000 after buying an additional 200 shares in the last quarter. Quadrant Capital Group LLC grew its stake in MasTec by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after buying an additional 212 shares during the last quarter. Finally, Bridge City Capital LLC increased its holdings in shares of MasTec by 0.8% during the first quarter. Bridge City Capital LLC now owns 33,010 shares of the construction company’s stock worth $3,078,000 after buying an additional 249 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.