MasTec (MTZ) Downgraded by Robert W. Baird
Robert W. Baird lowered shares of MasTec (NYSE:MTZ) from an outperform rating to a neutral rating in a report released on Thursday morning, Marketbeat.com reports. Robert W. Baird currently has $55.00 target price on the construction company’s stock.
MTZ has been the subject of several other reports. Credit Suisse Group restated an outperform rating and issued a $69.00 price objective (up from $58.00) on shares of MasTec in a research note on Thursday, January 18th. ValuEngine lowered MasTec from a buy rating to a hold rating in a report on Tuesday, November 14th. Craig Hallum raised their target price on MasTec from $57.00 to $64.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. B. Riley reaffirmed a buy rating and set a $67.00 target price (up from $66.00) on shares of MasTec in a report on Tuesday, November 7th. Finally, Stifel Nicolaus raised their target price on MasTec from $60.00 to $63.00 and gave the stock a buy rating in a report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. MasTec presently has an average rating of Buy and a consensus target price of $61.01.
MasTec (NYSE MTZ) opened at $49.25 on Thursday. MasTec has a 12 month low of $36.40 and a 12 month high of $55.53. The stock has a market capitalization of $4,080.00, a PE ratio of 17.84, a PEG ratio of 1.05 and a beta of 1.48. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.89.
A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in MasTec by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 51,843 shares of the construction company’s stock valued at $2,341,000 after purchasing an additional 692 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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. Ladenburg Thalmann Financial Services Inc. grew its holdings in 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. UBS Asset Management Americas Inc. grew its holdings in MasTec by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 51,280 shares of the construction company’s stock valued at $2,510,000 after purchasing an additional 1,369 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its holdings in MasTec by 0.6% in the third quarter. Kornitzer Capital Management Inc. KS now owns 238,805 shares of the construction company’s stock valued at $11,081,000 after purchasing an additional 1,445 shares during the period. 78.56% of the stock is currently owned by institutional investors.
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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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