MasTec’s (MTZ) “Outperform” Rating Reaffirmed at Credit Suisse Group
MasTec (NYSE:MTZ)‘s stock had its “outperform” rating reiterated by equities researchers at Credit Suisse Group in a report issued on Thursday, The Fly reports. They presently have a $69.00 target price on the construction company’s stock, up from their prior target price of $58.00. Credit Suisse Group’s price target points to a potential upside of 29.46% from the company’s current price.
Several other brokerages have also recently commented on MTZ. Zacks Investment Research raised MasTec from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Wednesday, January 3rd. Robert W. Baird set a $56.00 target price on MasTec and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Craig Hallum raised their target price on MasTec from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Barclays assumed coverage on MasTec in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 target price for the company. Finally, B. Riley reaffirmed a “buy” rating and issued a $67.00 target price (up from $66.00) on shares of MasTec in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $57.40.
Shares of MasTec (NYSE:MTZ) traded up $1.25 during mid-day trading on Thursday, reaching $53.30. The company had a trading volume of 773,143 shares, compared to its average volume of 977,283. The company has a market capitalization of $4,410.00, a PE ratio of 18.25, a P/E/G ratio of 1.19 and a beta of 1.54. MasTec has a 52-week low of $35.45 and a 52-week high of $53.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74.
In other MasTec news, COO Robert E. Apple sold 25,000 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 20.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in MasTec by 4.9% during the second quarter. Vanguard Group Inc. now owns 7,219,537 shares of the construction company’s stock worth $325,963,000 after acquiring an additional 335,076 shares in the last quarter. Advisor Group Inc. raised its stake in MasTec by 27.6% during 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 raised its stake in MasTec by 12.6% during 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. increased its stake 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 buying an additional 365,400 shares in the last quarter. Finally, Strategic Wealth Advisors Group LLC acquired a new stake in shares of MasTec in the third quarter valued at $601,000. 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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