MasTec (NYSE:MTZ) had its target price raised by research analysts at Craig Hallum from $57.00 to $64.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the construction company’s stock. Craig Hallum’s target price indicates a potential upside of 30.75% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research downgraded shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays initiated coverage on shares of MasTec in a report on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 target price on the stock. ValuEngine downgraded shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. B. Riley reiterated a “buy” rating and issued a $67.00 target price (up previously from $66.00) on shares of MasTec in a report on Tuesday, November 7th. Finally, Credit Suisse Group lifted their target price on shares of MasTec from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. MasTec currently has a consensus rating of “Buy” and an average target price of $55.69.
MasTec (MTZ) traded down $0.70 during midday trading on Tuesday, reaching $48.95. 440,500 shares of the company’s stock traded hands, compared to its average volume of 908,770. MasTec has a 12-month low of $34.33 and a 12-month high of $51.20. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74. The stock has a market cap of $4,051.13, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.32 and a beta of 1.54.
In related news, COO Robert E. Apple sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $50.16, for a total value of $1,254,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 20.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MasTec by 11.5% during the second 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 in the last quarter. SG Americas Securities LLC acquired a new position in shares of MasTec during the second quarter worth approximately $102,000. Advisory Services Network LLC lifted its position in shares of MasTec by 13.1% during the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock worth $167,000 after purchasing an additional 430 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of MasTec by 110.2% during the second quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock worth $171,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Sii Investments Inc. WI acquired a new position in shares of MasTec during the second quarter worth approximately $205,000. 73.22% of the stock is currently owned by institutional investors and hedge funds.
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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.
