MasTec (NYSE:MTZ) Price Target Cut to $153.00 by Analysts at Robert W. Baird

MasTec (NYSE:MTZ) had its price objective decreased by Robert W. Baird from $162.00 to $153.00 in a research note published on Monday,Benzinga reports. Robert W. Baird currently has a neutral rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on MTZ. JPMorgan Chase & Co. lifted their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. B. Riley reiterated a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Craig Hallum lifted their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Truist Financial lifted their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.07.

MasTec Trading Down 2.3 %

Shares of MasTec stock opened at $127.56 on Monday. The company’s fifty day simple moving average is $141.60 and its 200-day simple moving average is $131.76. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 113.89 and a beta of 1.73. 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 has a 1 year low of $82.29 and a 1 year high of $166.95.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, sell-side analysts expect that MasTec will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB acquired a new position in MasTec during the 3rd quarter worth about $25,000. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its position in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares in the last quarter. Colonial Trust Co SC lifted its position in MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 141 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in 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 buying an additional 128 shares in the last quarter. Institutional investors and hedge funds 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.