MasTec (NYSE:MTZ) Given New $120.00 Price Target at B. Riley

MasTec (NYSE:MTZ) had its target price boosted by B. Riley from $104.00 to $120.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

MTZ has been the topic of a number of other research reports. KeyCorp increased their price target on shares of MasTec from $104.00 to $113.00 and gave the company an overweight rating in a report on Monday. Truist Financial reiterated a hold rating and set a $109.00 target price (up previously from $96.00) on shares of MasTec in a research note on Monday. Craig Hallum boosted their price target on MasTec from $96.00 to $125.00 and gave the company a buy rating in a research note on Monday. DA Davidson reiterated a buy rating and set a $70.00 price objective on shares of MasTec in a research report on Monday, March 4th. Finally, Citigroup boosted their target price on shares of MasTec from $99.00 to $104.00 and gave the company a buy rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $107.23.

MasTec Price Performance

MTZ opened at $106.03 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. MasTec has a 12-month low of $44.65 and a 12-month high of $123.33. The business has a 50 day moving average of $88.63 and a 200-day moving average of $73.39.

MasTec (NYSE:MTZ) last released 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. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. As a group, research analysts predict that MasTec will post 2.33 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its position in shares of MasTec by 10.0% during the 1st quarter. SG Americas Securities LLC now owns 6,801 shares of the construction company’s stock worth $634,000 after buying an additional 619 shares during the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in MasTec during the first quarter worth about $843,000. Texas Permanent School Fund Corp lifted its holdings in shares of MasTec by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock worth $4,924,000 after acquiring an additional 817 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of MasTec in the 1st quarter valued at approximately $231,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of MasTec during the 1st quarter valued at approximately $463,000. 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.