MasTec (MTZ) Now Covered by Barclays
Equities researchers at Barclays initiated coverage on shares of MasTec (NYSE:MTZ) in a research report issued to clients and investors on Tuesday. The brokerage set an “overweight” rating and a $54.00 price target on the construction company’s stock. Barclays’ price target suggests a potential upside of 15.88% from the company’s current price.
A number of other equities analysts have also issued reports on MTZ. Canaccord Genuity reiterated a “buy” rating and set a $55.00 target price on shares of MasTec in a research report on Tuesday, August 15th. Citigroup raised shares of MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Friday, August 18th. Stifel Nicolaus reissued a “buy” rating and set a $55.50 price target on shares of MasTec in a research note on Saturday, August 19th. BidaskClub downgraded shares of MasTec from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $55.05.
Shares of MasTec (NYSE:MTZ) traded down $0.25 during mid-day trading on Tuesday, hitting $46.60. 701,100 shares of the stock were exchanged, compared to its average volume of 899,844. MasTec has a 12 month low of $34.33 and a 12 month high of $49.50. The firm has a market capitalization of $3,877.33, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in MasTec by 4.9% in the second quarter. Vanguard Group Inc. now owns 7,219,537 shares of the construction company’s stock valued at $325,963,000 after purchasing an additional 335,076 shares in the last quarter. Macquarie Group Ltd. increased its stake in MasTec by 15.3% in the third quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock valued at $141,374,000 after purchasing an additional 404,076 shares in the last quarter. Prudential Financial Inc. increased its stake in MasTec by 126.7% in the second quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock valued at $67,033,000 after purchasing an additional 829,650 shares in the last quarter. State Street Corp increased its stake in MasTec by 6.8% in the second quarter. State Street Corp now owns 1,319,541 shares of the construction company’s stock valued at $59,578,000 after purchasing an additional 84,002 shares in the last quarter. Finally, Hood River Capital Management LLC increased its stake in MasTec by 3.9% in the second quarter. Hood River Capital Management LLC now owns 1,099,113 shares of the construction company’s stock valued at $49,625,000 after purchasing an additional 40,885 shares in the last quarter. 73.23% of the stock is owned by institutional investors and hedge funds.
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MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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