MasTec (NYSE:MTZ) Given New $110.00 Price Target at TD Cowen

MasTec (NYSE:MTZ) had its price target upped by equities researchers at TD Cowen from $105.00 to $110.00 in a note issued to investors on Monday, Briefing.com reports. The firm presently has a “buy” rating on the construction company’s stock. TD Cowen’s target price suggests a potential upside of 8.06% from the company’s previous close.

MTZ has been the topic of a number of other research reports. Citigroup raised their price objective on MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. UBS Group lifted their price target on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. KeyCorp lifted their price target on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of MasTec in a research note on Monday, March 4th. Finally, Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $96.00 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.85.

MasTec Price Performance

MasTec stock opened at $101.80 on Monday. The stock’s fifty day moving average price is $87.95 and its two-hundred day moving average price is $73.09. MasTec has a one year low of $44.65 and a one year high of $123.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a market cap of $8.09 billion, a PE ratio of -727.14 and a beta of 1.61.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. As a group, research analysts expect that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTZ. Vontobel Holding Ltd. boosted its stake in shares of MasTec by 16.2% in the 4th quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock worth $78,454,000 after buying an additional 144,180 shares during the last quarter. Vanguard Group Inc. lifted its stake in MasTec by 0.6% in the third quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after purchasing an additional 33,592 shares during the last quarter. Oak Thistle LLC purchased a new position in MasTec in the fourth quarter valued at approximately $883,000. Nordea Investment Management AB lifted its stake in MasTec by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after purchasing an additional 1,027,085 shares during the last quarter. Finally, Sycomore Asset Management purchased a new stake in shares of MasTec during the fourth quarter worth $965,000. 78.10% of the stock is 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.