MasTec (NYSE:MTZ) PT Raised to $104.00 at Citigroup

MasTec (NYSE:MTZ) had its target price upped by investment analysts at Citigroup from $99.00 to $104.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price target would suggest a potential upside of 20.16% from the stock’s previous close.

Several other brokerages have also issued reports on MTZ. KeyCorp raised their target price on MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. TD Cowen raised their target price on MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. UBS Group increased their price target on MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group increased their price target on MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $96.00 in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.85.

MasTec Stock Up 3.3 %

Shares of MTZ opened at $86.55 on Monday. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -131.14 and a beta of 1.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.40. The stock has a fifty day moving average of $84.67 and a 200-day moving average of $71.66.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (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 analyst estimates 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, sell-side analysts anticipate that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of MasTec

Several large investors have recently made changes to their positions in MTZ. CWM LLC grew its stake in shares of MasTec by 152.4% in the 3rd quarter. CWM LLC now owns 525 shares of the construction company’s stock valued at $38,000 after buying an additional 317 shares during the period. Ronald Blue Trust Inc. boosted its stake in MasTec by 75.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock valued at $39,000 after purchasing an additional 232 shares during the last quarter. Bellecapital International Ltd. boosted its stake in MasTec by 0.5% during the 3rd quarter. Bellecapital International Ltd. now owns 58,120 shares of the construction company’s stock valued at $4,183,000 after purchasing an additional 282 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new position in MasTec during the 3rd quarter valued at about $336,000. Finally, Townsend Asset Management Corp NC ADV boosted its stake in MasTec by 6.3% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 64,137 shares of the construction company’s stock valued at $4,616,000 after purchasing an additional 3,790 shares during the last quarter. 78.10% of the stock is currently 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.