Craig Hallum Reaffirms Buy Rating for MasTec (MTZ)
Craig Hallum restated their buy rating on shares of MasTec (NYSE:MTZ) in a research note issued to investors on Thursday. Craig Hallum currently has a $69.00 price objective on the construction company’s stock, up from their previous price objective of $64.00.
Several other equities research analysts have also recently commented on the company. DA Davidson raised their target price on MasTec to $65.00 and gave the stock a buy rating in a research note on Thursday. Robert W. Baird cut MasTec from an outperform rating to a neutral rating and set a $55.00 target price for the company. in a research note on Thursday. Citigroup raised their target price on MasTec from $62.00 to $68.00 and gave the stock a buy rating in a research note on Tuesday, February 6th. ValuEngine raised MasTec from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus raised their target price on MasTec from $60.00 to $63.00 and gave the stock a buy rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $61.01.
MasTec (MTZ) traded down $0.35 during midday trading on Thursday, reaching $49.25. The company had a trading volume of 996,859 shares, 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 firm has a market capitalization of $4,079.13, a PE ratio of 11.70, a P/E/G ratio of 1.13 and a beta of 1.48. The company has a quick ratio of 1.66, a current ratio of 1.92 and a debt-to-equity ratio of 0.89.
Large investors have recently made changes to their positions in the business. Advisor Group Inc. boosted its holdings in MasTec by 27.6% in the third quarter. Advisor Group Inc. now owns 11,543 shares of the construction company’s stock worth $535,000 after acquiring an additional 2,496 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in MasTec by 12.6% in the third quarter. Bank of New York Mellon Corp now owns 364,094 shares of the construction company’s stock worth $16,893,000 after acquiring an additional 40,854 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of MasTec by 112.3% in the third quarter. Point72 Asset Management L.P. now owns 690,800 shares of the construction company’s stock valued at $32,053,000 after purchasing an additional 365,400 shares in the last quarter. Strategic Wealth Advisors Group LLC bought a new position in shares of MasTec in the third quarter valued at approximately $601,000. Finally, 361 Capital LLC bought a new position in shares of MasTec in the third quarter valued at approximately $2,212,000. Institutional investors and hedge funds own 74.36% of the company’s stock.
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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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