MasTec (NYSE:MTZ) Shares Gap Up to $91.00

MasTec, Inc. (NYSE:MTZ) gapped up prior to trading on Friday . The stock had previously closed at $91.00, but opened at $101.49. MasTec shares last traded at $103.48, with a volume of 484,546 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MTZ shares. Citigroup upped their target price on MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of MasTec in a research report on Monday, March 4th. Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $96.00 in a research report 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 report on Monday, March 4th. Finally, KeyCorp increased their target price on MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.85.

MasTec Stock Performance

The company has a market cap of $8.09 billion, a price-to-earnings ratio of -156.45 and a beta of 1.61. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36. The stock has a 50-day moving average price of $87.34 and a 200 day moving average price of $72.76.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. As a group, analysts anticipate that MasTec, Inc. will post 2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in MasTec in the fourth quarter valued at approximately $37,000. CWM LLC boosted its stake in shares of MasTec by 152.4% during the 3rd quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after acquiring an additional 317 shares during the period. Headlands Technologies LLC bought a new position in shares of MasTec during the 3rd quarter worth approximately $41,000. Itau Unibanco Holding S.A. bought a new position in shares of MasTec during the 3rd quarter worth approximately $43,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of MasTec by 30.9% during the 4th quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock worth $68,000 after acquiring an additional 212 shares during the period. 78.10% of the stock is currently owned by 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.