Barclays Raises MasTec (NYSE:MTZ) Price Target to $130.00

MasTec (NYSE:MTZ) had its price objective hoisted by equities researchers at Barclays from $106.00 to $130.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s target price suggests a potential upside of 22.16% from the company’s current price.

MTZ has been the subject of several other research reports. TD Cowen upped their price objective on shares of MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group upped their price target on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group lifted their price objective on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Craig Hallum upped their target price on MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup raised their price target on shares of MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, MasTec has an average rating of “Moderate Buy” and a consensus target price of $107.23.

MasTec Stock Performance

Shares of MTZ traded up $4.62 during mid-day trading on Monday, hitting $106.42. 796,681 shares of the company’s stock were exchanged, compared to its average volume of 924,047. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of -757.57 and a beta of 1.61. The stock’s 50-day simple moving average is $87.95 and its 200-day simple moving average is $73.09. MasTec has a 52 week low of $44.65 and a 52 week high of $123.33.

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. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. On average, equities research analysts expect that MasTec will post 2.33 EPS for the current year.

Institutional Investors Weigh In On MasTec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of MasTec by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock worth $429,670,000 after buying an additional 33,592 shares during the last quarter. Nordea Investment Management AB increased its position in shares of MasTec by 35.0% during the 4th 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. Allspring Global Investments Holdings LLC raised its position in MasTec by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock worth $263,271,000 after acquiring an additional 17,369 shares during the period. Electron Capital Partners LLC grew its position in shares of MasTec by 16.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after acquiring an additional 238,874 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in shares of MasTec by 42.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after buying an additional 312,991 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.