MasTec (NYSE:MTZ) PT Set at $56.00 by Robert W. Baird

Robert W. Baird set a $56.00 price objective on MasTec (NYSE:MTZ) in a report published on Wednesday, January 3rd. The firm currently has a buy rating on the construction company’s stock.

MTZ has been the subject of several other research reports. Zacks Investment Research downgraded shares of MasTec from a buy rating to a hold rating in a research note on Tuesday, January 2nd. Craig Hallum raised their price objective on shares of MasTec from $57.00 to $64.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. KeyCorp reaffirmed a buy rating and set a $51.00 price target on shares of MasTec in a research note on Tuesday, September 19th. B. Riley reaffirmed a buy rating and set a $67.00 price target (up previously from $66.00) on shares of MasTec in a research note on Tuesday, November 7th. Finally, ValuEngine downgraded shares of MasTec from a buy rating to a hold rating in a research note on Tuesday, November 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. MasTec has an average rating of Buy and an average price target of $56.33.

Shares of MasTec (NYSE MTZ) traded up $0.90 during trading on Wednesday, hitting $52.50. The stock had a trading volume of 722,760 shares, compared to its average volume of 1,040,000. The stock has a market capitalization of $4,340.00, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.33 and a beta of 1.54. MasTec has a 52-week low of $34.60 and a 52-week high of $52.65. The company has a current ratio of 1.74, a quick ratio of 1.66 and a debt-to-equity ratio of 0.92.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.09. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business posted $0.81 earnings per share. sell-side analysts forecast that MasTec will post 2.65 earnings per share for the current fiscal year.

In related news, COO Robert E. Apple sold 25,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $50.16, for a total transaction of $1,254,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of MasTec by 4.9% in 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 during the period. Macquarie Group Ltd. raised its position in shares of MasTec by 15.3% during the 3rd quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock worth $141,374,000 after purchasing an additional 404,076 shares during the last quarter. State Street Corp raised its position in shares of MasTec by 6.8% during the 2nd quarter. State Street Corp now owns 1,319,541 shares of the construction company’s stock worth $59,578,000 after purchasing an additional 84,002 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of MasTec by 3.9% during the 2nd quarter. Hood River Capital Management LLC now owns 1,099,113 shares of the construction company’s stock worth $49,625,000 after purchasing an additional 40,885 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its position in shares of MasTec by 18.5% during the 3rd quarter. Rothschild Asset Management Inc. now owns 943,843 shares of the construction company’s stock worth $43,794,000 after purchasing an additional 147,017 shares during the last quarter. Institutional investors and hedge funds own 73.22% of the company’s stock.

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About MasTec

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.

Analyst Recommendations for MasTec (NYSE:MTZ)

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