Piper Sandler Boosts MasTec (NYSE:MTZ) Price Target to $175.00

MasTec (NYSE:MTZ - Get Free Report) had its price target increased by analysts at Piper Sandler from $134.00 to $175.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. Piper Sandler's price objective suggests a potential upside of 21.51% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Barclays increased their price target on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Citigroup reduced their price target on MasTec from $167.00 to $152.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Robert W. Baird dropped their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Guggenheim restated a "buy" rating and set a $195.00 price objective on shares of MasTec in a research report on Monday. Finally, KeyCorp boosted their target price on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a report on Monday. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MasTec presently has an average rating of "Moderate Buy" and a consensus target price of $159.13.

MasTec Price Performance

Shares of NYSE MTZ traded up $3.15 during midday trading on Monday, hitting $144.02. The stock had a trading volume of 411,718 shares, compared to its average volume of 934,535. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $120.52 and a 200-day simple moving average of $132.68. The company has a market capitalization of $11.39 billion, a PE ratio of 128.59 and a beta of 1.71. MasTec has a 1 year low of $89.96 and a 1 year high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) 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 analysts' expectations of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) EPS. On average, sell-side analysts expect that MasTec will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business'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 transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently modified their holdings of MTZ. Wilmington Savings Fund Society FSB purchased a new stake in MasTec during the 3rd quarter worth about $25,000. Ameliora Wealth Management Ltd. acquired a new position in MasTec in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its stake in MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Colonial Trust Co SC raised its holdings in MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Finally, Rothschild Investment LLC boosted its holdings in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds 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.

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