Brokerages Set MasTec, Inc. (MTZ) PT at $58.94

Shares of MasTec, Inc. (NYSE:MTZ) have received an average rating of “Buy” from the seventeen analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.94.

Several research analysts have issued reports on MTZ shares. Credit Suisse Group reissued an “outperform” rating and set a $69.00 price objective (up from $58.00) on shares of MasTec in a research report on Thursday, January 18th. ValuEngine downgraded shares of MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Citigroup set a $54.00 price objective on shares of MasTec and gave the stock a “buy” rating in a research report on Friday, October 27th. Craig Hallum lifted their target price on shares of MasTec from $57.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus lifted their target price on shares of MasTec from $60.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 26th.

In other news, COO Robert E. Apple sold 25,000 shares of MasTec 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 filing with the SEC, which is available at this hyperlink. 20.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of MasTec in the fourth quarter valued at about $107,000. FNY Partners Fund LP acquired a new stake in shares of MasTec in the fourth quarter valued at about $122,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of MasTec by 81.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock valued at $128,000 after purchasing an additional 1,179 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of MasTec in the fourth quarter valued at about $146,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MasTec by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock valued at $166,000 after purchasing an additional 1,175 shares during the period. Hedge funds and other institutional investors own 74.36% of the company’s stock.

Shares of MasTec (NYSE:MTZ) traded up $0.40 during trading on Tuesday, reaching $53.05. 106,594 shares of the company’s stock traded hands, compared to its average volume of 778,547. MasTec has a 52 week low of $36.40 and a 52 week high of $55.53. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66. The stock has a market cap of $4,390.00, a P/E ratio of 18.18, a P/E/G ratio of 1.16 and a beta of 1.49.

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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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