MasTec (MTZ) Given Outperform Rating at Credit Suisse Group
Credit Suisse Group reissued their outperform rating on shares of MasTec (NYSE:MTZ) in a report published on Thursday. The firm currently has a $70.00 price target on the construction company’s stock, up from their prior price target of $69.00.
Other research analysts have also recently issued reports about the company. Barclays began coverage on MasTec in a research note on Tuesday, December 12th. They issued an overweight rating and a $54.00 price target for the company. DA Davidson increased their price target on MasTec to $65.00 and gave the company a buy rating in a research note on Thursday. Robert W. Baird cut MasTec from an outperform rating to a neutral rating and set a $55.00 price target for the company. in a research note on Thursday. Citigroup increased their price target on MasTec from $62.00 to $68.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Finally, Zacks Investment Research upgraded MasTec from a hold rating to a buy rating and set a $56.00 price target for the company in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $61.01.
Shares of MasTec (MTZ) traded down $0.35 on Thursday, hitting $49.25. The stock had a trading volume of 996,859 shares, compared to its average volume of 1,069,874. MasTec has a one year low of $36.40 and a one year high of $55.53. The company has a market cap of $4,079.13, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The company has a quick ratio of 1.66, a current ratio of 1.92 and a debt-to-equity ratio of 0.89.
Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in MasTec by 207,898.9% during the 4th quarter. Victory Capital Management Inc. now owns 740,476 shares of the construction company’s stock worth $36,246,000 after acquiring an additional 740,120 shares during the period. Handelsbanken Fonder AB grew its holdings in MasTec by 297.1% during the 4th quarter. Handelsbanken Fonder AB now owns 675,000 shares of the construction company’s stock worth $33,041,000 after acquiring an additional 505,000 shares during the period. Renaissance Technologies LLC grew its holdings in MasTec by 254.4% during the 4th quarter. Renaissance Technologies LLC now owns 661,000 shares of the construction company’s stock worth $32,356,000 after acquiring an additional 474,500 shares during the period. Macquarie Group Ltd. grew its holdings in 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 acquiring an additional 404,076 shares during the period. Finally, 1060 Capital LLC grew its holdings in MasTec by 73.0% during the 3rd quarter. 1060 Capital LLC now owns 940,275 shares of the construction company’s stock worth $43,629,000 after acquiring an additional 396,847 shares during the period. 74.36% of the stock is owned by institutional investors and hedge funds.
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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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