Stifel Nicolaus Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

MasTec (NYSE:MTZ - Get Free Report) had its target price raised by analysts at Stifel Nicolaus from $143.00 to $171.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Stifel Nicolaus' target price would indicate a potential upside of 18.73% from the stock's current price.

Other equities research analysts have also issued research reports about the company. B. Riley reissued a "buy" rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. KeyCorp lifted their price target on shares of MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday. Wolfe Research assumed coverage on shares of MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating for the company. Piper Sandler lifted their target price on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $159.13.

MasTec Stock Up 2.2 %

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

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) EPS. As a group, sell-side analysts expect that MasTec will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 21.30% of the company's stock.

Hedge Funds Weigh In On MasTec

Hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the third quarter valued at approximately $25,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after acquiring an additional 116 shares during the last quarter. Colonial Trust Co SC increased its position in MasTec by 335.7% during the 4th 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 raised its stake in 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 purchasing an additional 263 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other 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.

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