MasTec (MTZ) PT Set at $56.00 by Robert W. Baird
MasTec (NYSE:MTZ) has been assigned a $56.00 price target by equities researchers at Robert W. Baird in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the construction company’s stock. Robert W. Baird’s target price would suggest a potential upside of 12.34% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Barclays began coverage on shares of MasTec in a research report on Tuesday, December 12th. They set an “overweight” rating and a $54.00 price target for the company. Zacks Investment Research downgraded shares of MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday. Craig Hallum lifted their price target on shares of MasTec from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday. KeyCorp reiterated a “buy” rating and set a $51.00 price target on shares of MasTec in a research report on Tuesday, September 19th. Finally, B. Riley reiterated a “buy” rating and set a $67.00 price target (up from $66.00) on shares of MasTec in a research report on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $56.33.
Shares of MasTec (MTZ) opened at $49.85 on Wednesday. MasTec has a twelve month low of $34.33 and a twelve month high of $51.20. The firm has a market capitalization of $4,142.17, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.25 and a beta of 1.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66.
In related news, COO Robert E. Apple sold 25,000 shares of MasTec stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $50.16, for a total transaction of $1,254,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.30% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MasTec by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after purchasing an additional 229 shares during the last quarter. SG Americas Securities LLC acquired a new position in MasTec in the 2nd quarter valued at $102,000. Advisory Services Network LLC raised its holdings in MasTec by 13.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after acquiring an additional 430 shares during the last quarter. D.A. Davidson & CO. raised its holdings in MasTec by 110.2% in the 2nd quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock valued at $171,000 after acquiring an additional 1,992 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in MasTec by 67.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,479 shares of the construction company’s stock valued at $209,000 after acquiring an additional 1,807 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.
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MasTec Company Profile
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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