Craig Hallum Raises MasTec (NYSE:MTZ) Price Target to $125.00

MasTec (NYSE:MTZ) had its target price raised by investment analysts at Craig Hallum from $96.00 to $125.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Craig Hallum’s target price suggests a potential upside of 17.64% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Citigroup lifted their price objective 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. Barclays boosted their price objective on MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. DA Davidson restated a “buy” rating and issued a $70.00 price target on shares of MasTec in a report on Monday, March 4th. TD Cowen upped their price target on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Truist Financial reaffirmed a “hold” rating and issued a $109.00 price objective (up from $96.00) on shares of MasTec in a report on Monday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.23.

MasTec Stock Up 4.4 %

Shares of NYSE:MTZ traded up $4.46 during midday trading on Monday, reaching $106.26. The company’s stock had a trading volume of 810,444 shares, compared to its average volume of 924,412. 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 50 day moving average of $87.95 and a 200-day moving average of $73.09. MasTec has a 12-month low of $44.65 and a 12-month high of $123.33. The firm has a market capitalization of $8.44 billion, a P/E ratio of -757.57 and a beta of 1.61.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. On average, research analysts anticipate that MasTec will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after acquiring an additional 33,592 shares during the last quarter. Nordea Investment Management AB increased its position in MasTec by 35.0% during the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after purchasing an additional 1,027,085 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of MasTec by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock worth $263,271,000 after buying an additional 17,369 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in shares of MasTec by 16.1% in 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 buying an additional 238,874 shares during the period. Finally, Frontier Capital Management Co. LLC grew its holdings in MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after acquiring an additional 312,991 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.