MasTec (NYSE:MTZ) Price Target Raised to $184.00

by · The Markets Daily

MasTec (NYSE:MTZ – Get Free Report) had its price target hoisted by stock analysts at Truist Financial from $154.00 to $184.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 27.51% from the stock’s current price.

Several other equities research analysts also recently issued reports on MTZ. JPMorgan Chase & Co. boosted their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Wolfe Research began coverage on MasTec in a report on Monday, March 31st. They issued a “peer perform” rating for the company. Guggenheim reaffirmed a “buy” rating and issued a $195.00 target price on shares of MasTec in a research report on Monday. Piper Sandler began coverage on MasTec in a report on Tuesday, April 8th. They issued an “overweight” rating and a $134.00 price target for the company. Finally, Citigroup lowered their price objective on shares of MasTec from $167.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.53.

Get Our Latest Stock Analysis on MasTec

MasTec Trading Up 2.4 %

Shares of MTZ traded up $3.43 during mid-day trading on Monday, reaching $144.30. The company had a trading volume of 325,363 shares, compared to its average volume of 934,211. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $166.95. The firm has a fifty day simple moving average of $120.52 and a 200-day simple moving average of $132.68. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 128.72 and a beta of 1.71. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share. On average, sell-side analysts anticipate that MasTec will post 3.44 EPS for the current fiscal year.

Insider Activity

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after purchasing an additional 209,472 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of MasTec during the third quarter valued at about $254,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec in the third quarter valued at about $25,000. Tidal Investments LLC grew its position in MasTec by 5.7% during the third quarter. Tidal Investments LLC now owns 10,912 shares of the construction company’s stock worth $1,343,000 after buying an additional 585 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in MasTec by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 637 shares of the construction company’s stock valued at $87,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

About MasTec

(Get Free Report)

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.

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