Craig Hallum Boosts MasTec (NYSE:MTZ) Price Target to $125.00

MasTec (NYSE:MTZ) had its price objective raised by research analysts at Craig Hallum from $96.00 to $125.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Craig Hallum’s target price would suggest a potential upside of 18.29% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a report on Monday, April 22nd. DA Davidson reiterated a “buy” rating and issued a $70.00 target price on shares of MasTec in a research report on Monday, March 4th. Truist Financial restated a “hold” rating and set a $109.00 price target (up previously from $96.00) on shares of MasTec in a report on Monday. UBS Group lifted their price objective on MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, TD Cowen raised their target price on shares of MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $111.08.

MasTec Price Performance

NYSE:MTZ opened at $105.67 on Monday. The business’s 50-day simple moving average is $89.26 and its two-hundred day simple moving average is $73.70. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. The stock has a market cap of $8.40 billion, a PE ratio of -754.79 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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. As a group, analysts forecast that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Trading of MasTec

Several institutional investors have recently added to or reduced their stakes in MTZ. Quarry LP bought a new stake in shares of MasTec during the 4th quarter worth approximately $37,000. Headlands Technologies LLC bought a new stake in shares of MasTec during the third quarter worth $41,000. Itau Unibanco Holding S.A. purchased a new stake in shares of MasTec during the third quarter valued at $43,000. CWM LLC grew its holdings in shares of MasTec by 59.4% in the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after purchasing an additional 312 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in MasTec by 30.9% in the 4th 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 period. Institutional investors 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.