B. Riley Raises MasTec (MTZ) Price Target to $71.00
A number of other research firms have also weighed in on MTZ. ValuEngine upgraded shares of MasTec from a hold rating to a buy rating in a research note on Friday, February 2nd. Stifel Nicolaus lifted their price objective on shares of MasTec from $60.00 to $63.00 and gave the company a buy rating in a research note on Friday, January 26th. Zacks Investment Research upgraded shares of MasTec from a hold rating to a strong-buy rating and set a $60.00 price objective for the company in a research note on Friday, January 19th. Credit Suisse Group reiterated an outperform rating and issued a $69.00 price objective (up from $58.00) on shares of MasTec in a research note on Thursday, January 18th. Finally, Citigroup lifted their price objective on shares of MasTec from $62.00 to $68.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $61.01.
MasTec (MTZ) traded down $0.35 during trading on Thursday, reaching $49.25. 996,859 shares of the company were exchanged, compared to its average volume of 1,069,874. MasTec has a fifty-two week low of $36.40 and a fifty-two week high of $55.53. The stock has a market cap of $4,079.13, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.92 and a quick ratio of 1.66.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. purchased a new position in MasTec in the fourth quarter worth $107,000. FNY Partners Fund LP purchased a new position in MasTec in the fourth quarter worth $122,000. Ladenburg Thalmann Financial Services Inc. grew its position in MasTec by 81.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock worth $128,000 after acquiring an additional 1,179 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in MasTec in the fourth quarter worth $146,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in MasTec by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock worth $166,000 after acquiring an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 74.36% of the company’s stock.
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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