Stifel Nicolaus Cuts MasTec (NYSE:MTZ) Price Target to $175.00

MasTec (NYSE:MTZ) had its target price reduced by Stifel Nicolaus from $185.00 to $175.00 in a research note issued to investors on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

Several other equities analysts have also recently issued reports on the company. Citigroup boosted their price target on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday. B. Riley restated a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday. Guggenheim began coverage on MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, KeyCorp boosted their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average price target of $160.14.

MasTec Trading Up 3.3 %

NYSE:MTZ opened at $128.03 on Monday. The firm has a market cap of $10.14 billion, a PE ratio of 114.31 and a beta of 1.73. The stock has a fifty day moving average price of $141.10 and a 200 day moving average price of $131.97. MasTec has a 12-month low of $82.29 and a 12-month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Sell-side analysts anticipate that MasTec will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several institutional investors have recently modified their holdings of MTZ. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec during the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. purchased a new stake in MasTec in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after buying an additional 116 shares in the last quarter. Colonial Trust Co SC lifted its stake in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.