Robert W. Baird Increases MasTec (NYSE:MTZ) Price Target to $110.00

MasTec (NYSE:MTZ) had its price target lifted by Robert W. Baird from $89.00 to $110.00 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other research firms also recently weighed in on MTZ. DA Davidson reaffirmed a buy rating and issued a $70.00 target price on shares of MasTec in a research report on Monday, March 4th. KeyCorp upped their price objective on shares of MasTec from $92.00 to $97.00 and gave the stock an overweight rating in a report on Monday, March 4th. Barclays lifted their target price on shares of MasTec from $55.00 to $106.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Truist Financial assumed coverage on MasTec in a research report on Thursday, March 14th. They set a hold rating and a $96.00 price objective for the company. Finally, Craig Hallum raised MasTec from a hold rating to a buy rating and boosted their target price for the stock from $50.00 to $96.00 in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, MasTec has an average rating of Moderate Buy and an average target price of $111.08.

MasTec Stock Performance

Shares of MTZ opened at $105.55 on Monday. MasTec has a one year low of $44.65 and a one year high of $123.33. The company has a 50-day simple moving average of $90.47 and a two-hundred day simple moving average of $74.14. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a market capitalization of $8.39 billion, a PE ratio of -753.93 and a beta of 1.61.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. On average, analysts anticipate that MasTec will post 2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several institutional investors have recently modified their holdings of MTZ. Nordea Investment Management AB lifted its stake in MasTec by 35.0% during the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after acquiring an additional 1,027,085 shares during the period. CI Investments Inc. raised its holdings in shares of MasTec by 44,834.1% during the third quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock valued at $57,434,000 after purchasing an additional 796,253 shares during the last quarter. Norges Bank bought a new position in MasTec during the fourth quarter valued at approximately $46,970,000. Point72 Asset Management L.P. boosted its holdings in MasTec by 96.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after purchasing an additional 502,039 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in MasTec by 7,110.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock worth $25,848,000 after purchasing an additional 354,163 shares during the period. 78.10% of the stock is 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.