Robert W. Baird Analysts Give MasTec (MTZ) a $56.00 Price Target

Robert W. Baird set a $56.00 target price on MasTec (NYSE:MTZ) in a report issued on Wednesday morning. The brokerage currently has a buy rating on the construction company’s stock.

Several other equities research analysts have also recently commented on the stock. Craig Hallum boosted their price target on shares of MasTec from $57.00 to $64.00 and gave the stock a buy rating in a research report on Tuesday. Zacks Investment Research cut shares of MasTec from a buy rating to a hold rating in a research report on Tuesday. Barclays assumed coverage on shares of MasTec in a research report on Tuesday, December 12th. They set an overweight rating and a $54.00 price target on the stock. ValuEngine cut shares of MasTec from a buy rating to a hold rating in a research report on Tuesday, November 14th. Finally, B. Riley reissued a buy rating and set a $67.00 price target (up from $66.00) on shares of MasTec in a research report on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $56.33.

Shares of MasTec (MTZ) opened at $49.70 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74. MasTec has a 52-week low of $34.33 and a 52-week high of $51.20. The company has a market cap of $4,129.75, a PE ratio of 16.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.54.

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

In other news, COO Robert E. Apple sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $50.16, for a total value of $1,254,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 20.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of MTZ. Parametric Portfolio Associates LLC grew its stake in MasTec by 12.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 280,294 shares of the construction company’s stock valued at $13,006,000 after buying an additional 30,475 shares during the last quarter. AXA grew its stake in MasTec by 397.1% in the 3rd quarter. AXA now owns 161,522 shares of the construction company’s stock valued at $7,495,000 after buying an additional 129,031 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in MasTec by 71.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,304 shares of the construction company’s stock valued at $2,566,000 after buying an additional 23,013 shares during the last quarter. GSA Capital Partners LLP acquired a new position in MasTec in the 3rd quarter valued at about $623,000. Finally, Algert Global LLC grew its stake in MasTec by 112.0% in the 3rd quarter. Algert Global LLC now owns 14,480 shares of the construction company’s stock valued at $672,000 after buying an additional 7,651 shares during the last quarter. 73.22% of the stock is currently owned by institutional investors.

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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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