Barclays Issues Positive Forecast for MasTec (NYSE:MTZ) Stock Price

MasTec (NYSE:MTZ) had its price objective raised by Barclays from $130.00 to $145.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

A number of other analysts have also recently weighed in on the stock. B. Riley reiterated a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Stifel Nicolaus decreased their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their price target 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. Truist Financial increased their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $160.14.

MasTec Trading Down 7.1 %

Shares of MasTec stock opened at $118.79 on Tuesday. The company has a fifty day simple moving average of $140.89 and a 200-day simple moving average of $131.95. MasTec has a 12-month low of $82.29 and a 12-month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 106.06 and a beta of 1.73.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. On average, equities analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On MasTec

Large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System increased its holdings in shares of MasTec by 21.7% in the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after purchasing an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock valued at $3,880,000 after purchasing an additional 8,948 shares in the last quarter. Atom Investors LP increased its holdings in shares of MasTec by 979.0% in the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after purchasing an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of MasTec by 286.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after purchasing an additional 13,241 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.