MasTec (NYSE:MTZ) Given New $145.00 Price Target at Barclays

MasTec (NYSE:MTZ) had its price target lifted by Barclays from $130.00 to $145.00 in a report published on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

Several other equities analysts have also commented on the company. TD Cowen raised their price target on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. KeyCorp lifted their target price on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. B. Riley reiterated a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Guggenheim began coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. Finally, Truist Financial lifted their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.14.

MasTec Stock Down 2.8 %

Shares of MTZ opened at $124.05 on Tuesday. 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 business has a fifty day moving average of $141.39 and a 200 day moving average of $131.88. MasTec has a 52-week low of $82.29 and a 52-week high of $166.95. The company has a market cap of $9.83 billion, a PE ratio of 110.76 and a beta of 1.73.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, sell-side analysts expect that MasTec will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MTZ. Pacer Advisors Inc. lifted its holdings in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after acquiring an additional 895,227 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in MasTec in the fourth quarter valued at approximately $59,910,000. First Trust Advisors LP increased its position in shares of 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 buying an additional 373,145 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after buying an additional 363,502 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of MasTec in the fourth quarter valued at approximately $46,612,000. 78.10% of the stock is owned by institutional investors and hedge funds.

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.