MasTec (NYSE:MTZ) Stock Price Expected to Rise, Citigroup Analyst Says

MasTec (NYSE:MTZ - Get Free Report) had its price objective increased by stock analysts at Citigroup from $152.00 to $170.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Citigroup's target price would suggest a potential upside of 14.55% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. upped their price objective on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Barclays lifted their target price on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Piper Sandler increased their price target on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MasTec has an average rating of "Moderate Buy" and an average price target of $160.33.

MasTec Stock Up 0.5 %

MTZ stock traded up $0.77 on Monday, hitting $148.41. 642,368 shares of the company's stock were exchanged, compared to its average volume of 932,356. The firm has a 50 day moving average price of $122.29 and a two-hundred day moving average price of $133.25. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a 12-month low of $89.96 and a 12-month high of $166.95. The stock has a market cap of $11.71 billion, a P/E ratio of 132.51 and a beta of 1.71.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. MasTec's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. As a group, equities research analysts expect that MasTec will post 3.44 EPS for the current fiscal year.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.30% of the company's stock.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Hood River Capital Management LLC raised its holdings in MasTec by 3.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after buying an additional 51,531 shares during the period. AQR Capital Management LLC boosted its position in shares of MasTec by 13.3% during the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock worth $106,117,000 after purchasing an additional 91,564 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after purchasing an additional 363,502 shares during the period. First Trust Advisors LP raised its position in MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after purchasing an additional 373,145 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in MasTec by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock worth $65,440,000 after purchasing an additional 4,024 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.