MasTec (NYSE:MTZ) PT Raised to $110.00

MasTec (NYSE:MTZ) had its price objective increased by investment analysts at TD Cowen from $105.00 to $110.00 in a research report issued on Monday, MarketBeat.com reports. The firm currently has a “buy” rating on the construction company’s stock. TD Cowen’s target price would suggest a potential upside of 4.10% from the stock’s previous close.

A number of other analysts have also issued reports on the company. 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 target price on shares of MasTec in a report on Monday, March 4th. Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $96.00 in a report on Monday, March 4th. UBS Group increased their target price on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, KeyCorp increased their target price on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.08.

MasTec Stock Performance

MTZ opened at $105.67 on Monday. The firm 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. The business has a fifty day simple moving average of $89.26 and a 200-day simple moving average of $73.70. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. As a group, equities analysts predict that MasTec will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On MasTec

Several institutional investors have recently bought and sold shares of MTZ. Raymond James & Associates raised its holdings in MasTec by 2.3% during the third quarter. Raymond James & Associates now owns 86,771 shares of the construction company’s stock valued at $6,245,000 after buying an additional 1,912 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in MasTec by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 537,773 shares of the construction company’s stock valued at $38,704,000 after buying an additional 5,059 shares in the last quarter. Castleview Partners LLC raised its holdings in MasTec by 1,250.0% during the third quarter. Castleview Partners LLC now owns 1,350 shares of the construction company’s stock valued at $97,000 after buying an additional 1,250 shares in the last quarter. Strs Ohio raised its holdings in MasTec by 30.1% during the third quarter. Strs Ohio now owns 17,859 shares of the construction company’s stock valued at $1,285,000 after buying an additional 4,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in MasTec by 9.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 415,190 shares of the construction company’s stock valued at $29,881,000 after buying an additional 35,997 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

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.