MasTec (NYSE:MTZ) Given New $167.00 Price Target at Citigroup

MasTec (NYSE:MTZ) had its target price raised by Citigroup from $156.00 to $167.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other research firms also recently commented on MTZ. Stifel Nicolaus increased their target price on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. B. Riley reaffirmed a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. KeyCorp increased their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Two 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 stock has a consensus rating of “Moderate Buy” and an average price target of $159.07.

MasTec Trading Down 2.3 %

Shares of MTZ opened at $127.56 on Monday. The company has a market capitalization of $10.11 billion, a P/E ratio of 113.89 and a beta of 1.73. MasTec has a one year low of $82.29 and a one year high of $166.95. 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 stock has a 50-day moving average price of $141.60 and a 200 day moving average price of $131.76.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Sell-side analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Institutional Trading of MasTec

Several large investors have recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. increased its position in MasTec by 65.6% in the 3rd 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 stake in MasTec in the 4th quarter valued at approximately $59,910,000. First Trust Advisors LP increased its position in MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after acquiring an additional 373,145 shares during the period. Balyasny Asset Management L.P. increased its position in MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock valued at $85,451,000 after acquiring an additional 363,502 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in MasTec in the 4th quarter valued at approximately $46,612,000. 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.