Citigroup Increases MasTec (NYSE:MTZ) Price Target to $104.00

MasTec (NYSE:MTZ) had its price target upped by Citigroup from $99.00 to $104.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

MTZ has been the topic of several other research reports. Truist Financial initiated coverage on MasTec in a research note on Thursday, March 14th. They set a hold rating and a $96.00 price target on the stock. DA Davidson reaffirmed a buy rating and set a $70.00 price target on shares of MasTec in a research note on Monday, March 4th. TD Cowen upped their price target on MasTec from $85.00 to $105.00 and gave the company an outperform rating in a research note on Monday, March 4th. Craig Hallum raised 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 research note on Monday, March 4th. Finally, Robert W. Baird increased their target price on MasTec from $70.00 to $89.00 and gave the company a neutral rating in a research note 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. Based on data from MarketBeat, MasTec currently has an average rating of Moderate Buy and a consensus price target of $96.85.

MasTec Price Performance

MasTec stock opened at $85.18 on Monday. 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 firm has a market cap of $6.77 billion, a P/E ratio of -129.06 and a beta of 1.62. The business’s fifty day moving average is $84.97 and its two-hundred day moving average is $71.79. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.20. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Equities research analysts forecast that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several large investors have recently modified their holdings of MTZ. Quarry LP bought a new stake in shares of MasTec in the fourth quarter worth about $37,000. CWM LLC increased its holdings in shares of MasTec by 152.4% in the third quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after acquiring an additional 317 shares in the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 232 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of MasTec in the third quarter worth about $41,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of MasTec in the third quarter worth about $43,000. 78.10% of the stock is currently owned by institutional investors.

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.