Stifel Nicolaus Raises MasTec (NYSE:MTZ) Price Target to $120.00

MasTec (NYSE:MTZ) had its price target hoisted by Stifel Nicolaus from $100.00 to $120.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other equities research analysts also recently issued reports on the company. Citigroup raised their price target on MasTec from $99.00 to $104.00 and gave the company a buy rating in a report on Monday, April 22nd. Barclays upped their price target on shares of MasTec from $106.00 to $130.00 and gave the company an overweight rating in a research note on Monday. TD Cowen raised 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. The Goldman Sachs Group lifted their price target on MasTec from $54.00 to $61.00 and gave the stock a neutral rating in a report on Friday, February 9th. Finally, UBS Group upped their price objective on MasTec from $89.00 to $92.00 and gave the company a buy rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $107.23.

MasTec Price Performance

Shares of MTZ opened at $106.03 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The company’s fifty day simple moving average is $88.63 and its 200 day simple moving average is $73.39. MasTec has a 1-year low of $44.65 and a 1-year high of $123.33.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative net margin of 0.09% and a positive return on equity of 6.19%. As a group, analysts expect that MasTec will post 2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. SG Americas Securities LLC raised its position in MasTec by 10.0% during the first quarter. SG Americas Securities LLC now owns 6,801 shares of the construction company’s stock valued at $634,000 after purchasing an additional 619 shares in the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in shares of MasTec during the 1st quarter worth $843,000. Texas Permanent School Fund Corp lifted its position in shares of MasTec by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock worth $4,924,000 after buying an additional 817 shares during the last quarter. Jennison Associates LLC acquired a new position in MasTec during the first quarter worth about $231,000. Finally, Janney Montgomery Scott LLC acquired a new position in MasTec during the 1st quarter worth approximately $463,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.