MasTec (NYSE:MTZ) Stock Rating Reaffirmed by Truist Financial

MasTec (NYSE:MTZ)‘s stock had its “hold” rating reiterated by investment analysts at Truist Financial in a note issued to investors on Monday, Benzinga reports. They presently have a $109.00 target price on the construction company’s stock, up from their previous target price of $96.00. Truist Financial’s price objective would indicate a potential upside of 3.15% from the stock’s previous close.

A number of other equities analysts have also issued reports on MTZ. Citigroup raised their target price on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. The Goldman Sachs Group raised their target price on shares of MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. KeyCorp raised their target price on shares of MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. TD Cowen lifted their price objective on shares of MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday. Finally, Craig Hallum upgraded shares of MasTec from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $96.00 in a research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.08.

MasTec Stock Performance

Shares of MasTec stock opened at $105.67 on Monday. The firm has a market capitalization of $8.40 billion, a P/E ratio of -754.79 and a beta of 1.61. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33. 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 firm’s 50 day moving average is $89.26 and its two-hundred day moving average is $73.70.

MasTec (NYSE:MTZ) last announced 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. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. Research analysts forecast that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On MasTec

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in MasTec in the fourth quarter valued at $37,000. Headlands Technologies LLC acquired a new position in shares of MasTec during the 3rd quarter worth $41,000. Itau Unibanco Holding S.A. acquired a new position in shares of MasTec during the 3rd quarter worth $43,000. CWM LLC raised its stake in shares of MasTec by 59.4% during the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock worth $63,000 after buying an additional 312 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of MasTec by 30.9% during 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 last quarter. Institutional investors and hedge funds 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.