Brokerages Set MasTec, Inc. (NYSE:MTZ) PT at $96.46

MasTec, Inc. (NYSE:MTZ) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $96.46.

Several equities analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on MasTec from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. UBS Group lifted their price objective on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Barclays lifted their price objective on MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Robert W. Baird lifted their price objective on MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $96.00 in a research report on Monday, March 4th.

MasTec Price Performance

Shares of MTZ stock opened at $93.25 on Monday. The stock has a 50 day moving average of $77.76 and a two-hundred day moving average of $70.36. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. MasTec has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a market capitalization of $7.39 billion, a P/E ratio of -141.29 and a beta of 1.60.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. As a group, equities analysts expect that MasTec will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently made changes to their positions in MTZ. Raymond James Financial Services Advisors Inc. grew its stake in shares of MasTec by 6.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,281 shares of the construction company’s stock worth $1,331,000 after purchasing an additional 940 shares during the period. Citigroup Inc. grew its stake in shares of MasTec by 139.8% during the first quarter. Citigroup Inc. now owns 48,537 shares of the construction company’s stock worth $4,228,000 after purchasing an additional 28,295 shares during the period. PNC Financial Services Group Inc. lifted its holdings in MasTec by 121.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the construction company’s stock worth $360,000 after acquiring an additional 2,260 shares in the last quarter. Bank of Montreal Can lifted its holdings in MasTec by 97.1% during the first quarter. Bank of Montreal Can now owns 30,573 shares of the construction company’s stock worth $2,635,000 after acquiring an additional 15,061 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in MasTec by 37.2% during the first quarter. MetLife Investment Management LLC now owns 38,037 shares of the construction company’s stock worth $3,313,000 after acquiring an additional 10,310 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.