MasTec (NYSE:MTZ) Price Target Lowered to $152.00 at Citigroup

MasTec (NYSE:MTZ - Get Free Report) had its price objective cut by investment analysts at Citigroup from $167.00 to $152.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Citigroup's target price would indicate a potential upside of 21.51% from the company's previous close.

A number of other research analysts have also recently commented on the company. Wolfe Research assumed coverage on MasTec in a report on Monday, March 31st. They issued a "peer perform" rating on the stock. B. Riley reaffirmed a "buy" rating and set a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. JPMorgan Chase & Co. upped their price objective on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Robert W. Baird decreased their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Barclays boosted their target price on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.00.

MasTec Stock Performance

Shares of MTZ stock traded up $2.26 on Friday, reaching $125.09. The stock had a trading volume of 504,775 shares, compared to its average volume of 939,268. The stock has a market cap of $9.89 billion, a P/E ratio of 111.69 and a beta of 1.62. MasTec has a 1 year low of $86.12 and a 1 year high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a 50 day simple moving average of $120.35 and a 200 day simple moving average of $132.52.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.32 billion. Equities research analysts expect that MasTec will post 3.44 EPS for the current year.

Insiders Place Their Bets

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC increased its position in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after acquiring an additional 116 shares during the period. Colonial Trust Co SC increased its position in shares of MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 141 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec during the third quarter worth $25,000. Finally, Smartleaf Asset Management LLC increased its position in shares of MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after acquiring an additional 128 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

About MasTec

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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.