MasTec (NYSE:MTZ) Given New $120.00 Price Target at Stifel Nicolaus

MasTec (NYSE:MTZ) had its price target boosted by investment analysts at Stifel Nicolaus from $100.00 to $120.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 13.20% from the stock’s current price.

A number of other brokerages have also weighed in on MTZ. KeyCorp raised their target price on shares of MasTec from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday. TD Cowen upped their target price on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial reissued a “hold” rating and set a $109.00 price target (up from $96.00) on shares of MasTec in a research note on Monday. The Goldman Sachs Group upped their price objective on MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Craig Hallum lifted their target price on shares of MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.23.

MasTec Price Performance

MTZ traded up $4.21 during trading on Monday, hitting $106.01. 774,026 shares of the stock traded hands, compared to its average volume of 923,611. The business has a 50 day moving average price of $87.95 and a 200 day moving average price of $73.09. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. MasTec has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a market cap of $8.42 billion, a price-to-earnings ratio of -757.57 and a beta of 1.61.

MasTec (NYSE:MTZ) last posted its quarterly 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. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Equities research analysts forecast that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of MasTec

Large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in MasTec during the 4th quarter worth approximately $37,000. Headlands Technologies LLC bought a new stake in MasTec during the third quarter worth $41,000. Itau Unibanco Holding S.A. purchased a new stake in MasTec in the 3rd quarter valued at $43,000. CWM LLC raised its position in MasTec by 59.4% in the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after buying an additional 312 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds 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.