MasTec (NYSE:MTZ) Given New $104.00 Price Target at Citigroup

MasTec (NYSE:MTZ) had its price target boosted by Citigroup from $99.00 to $104.00 in a report issued on Monday, Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

Several other research analysts have also issued reports on the company. UBS Group boosted their target price on MasTec from $89.00 to $92.00 and gave the company a buy rating in a research report on Friday, February 2nd. Truist Financial initiated coverage on MasTec in a research report on Thursday, March 14th. They set a hold rating and a $96.00 target price for the company. TD Cowen boosted their target price on MasTec from $85.00 to $105.00 and gave the company an outperform rating in a research report on Monday, March 4th. KeyCorp boosted their target price on MasTec from $92.00 to $97.00 and gave the company an overweight rating in a research report on Monday, March 4th. Finally, Robert W. Baird lifted their price target on shares of MasTec from $70.00 to $89.00 and gave the company a neutral rating in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $96.85.

MasTec Trading Down 0.8 %

MTZ opened at $83.76 on Monday. The firm has a market cap of $6.66 billion, a P/E ratio of -126.91 and a beta of 1.62. MasTec has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average of $84.67 and a 200 day moving average of $71.66.

MasTec (NYSE:MTZ) last released its quarterly 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 company 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, research analysts forecast that MasTec will post 2.33 EPS for the current year.

Hedge Funds Weigh In On MasTec

A number of large investors have recently bought and sold shares of MTZ. Quarry LP bought a new position in MasTec in the fourth quarter worth approximately $37,000. CWM LLC raised its stake in MasTec by 152.4% in the third quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after buying an additional 317 shares in the last quarter. Ronald Blue Trust Inc. raised its stake in MasTec by 75.3% in the third quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock worth $39,000 after buying an additional 232 shares in the last quarter. Headlands Technologies LLC bought a new position in MasTec in the third quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of MasTec during the third quarter worth $43,000. 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.