MasTec (NYSE:MTZ) had its target price increased by B. Riley from $46.00 to $57.00 in a report published on Monday, The Fly reports.
Other equities analysts also recently issued reports about the stock. DA Davidson decreased their price target on shares of MasTec from $75.00 to $41.00 and set a buy rating on the stock in a research note on Tuesday, April 7th. Citigroup upped their target price on MasTec from $47.00 to $50.00 and gave the company a buy rating in a report on Monday. UBS Group cut their target price on MasTec from $73.00 to $40.00 and set a neutral rating for the company in a research note on Wednesday, April 15th. Credit Suisse Group boosted their price target on shares of MasTec from $48.00 to $54.00 and gave the company an outperform rating in a research report on Monday. Finally, Craig Hallum upped their price objective on shares of MasTec from $71.00 to $78.00 and gave the company a buy rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. MasTec has an average rating of Buy and an average target price of $53.92.
Shares of MasTec stock traded down $0.38 during mid-day trading on Monday, reaching $42.34. 30,732 shares of the stock traded hands, compared to its average volume of 894,520. The stock has a market capitalization of $3.13 billion, a PE ratio of 9.91 and a beta of 1.39. The business has a 50-day moving average of $41.44 and a 200 day moving average of $42.83. MasTec has a fifty-two week low of $22.51 and a fifty-two week high of $73.71. The company has a quick ratio of 1.57, a current ratio of 1.40 and a debt-to-equity ratio of 0.71.
In other news, Director Robert J. Dwyer sold 5,945 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $41.09, for a total value of $244,280.05. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $616,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Copper Rock Capital Partners LLC acquired a new stake in shares of MasTec in the second quarter valued at $576,323,000. State Street Corp boosted its holdings in MasTec by 1.0% during the 1st quarter. State Street Corp now owns 1,906,790 shares of the construction company’s stock valued at $62,409,000 after acquiring an additional 18,150 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in MasTec by 74.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,757,086 shares of the construction company’s stock valued at $57,509,000 after acquiring an additional 749,052 shares in the last quarter. JPMorgan Chase & Co. increased its stake in MasTec by 44.8% during the first quarter. JPMorgan Chase & Co. now owns 1,518,456 shares of the construction company’s stock worth $49,700,000 after purchasing an additional 469,778 shares during the period. Finally, AQR Capital Management LLC increased its stake in MasTec by 39.9% during the first quarter. AQR Capital Management LLC now owns 1,264,776 shares of the construction company’s stock worth $39,372,000 after purchasing an additional 360,770 shares during the period. Institutional investors and hedge funds own 82.82% of the company’s stock.
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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
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