Stifel Nicolaus Cuts MasTec (NYSE:MTZ) Price Target to $143.00

MasTec (NYSE:MTZ - Free Report) had its price target cut by Stifel Nicolaus from $175.00 to $143.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the construction company's stock.

MTZ has been the subject of several other research reports. Truist Financial dropped their target price on MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Guggenheim reiterated a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Tuesday, March 25th. Robert W. Baird reduced their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Barclays lifted their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $153.87.

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MasTec Trading Up 0.9 %

Shares of NYSE:MTZ traded up $1.10 during trading on Wednesday, hitting $118.08. The company had a trading volume of 208,008 shares, compared to its average volume of 932,614. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 105.43 and a beta of 1.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a fifty day simple moving average of $124.67 and a two-hundred day simple moving average of $133.08. MasTec has a one year low of $82.29 and a one year high of $166.95.

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

Insider Activity

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC grew its stake in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 141 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of MasTec in the third quarter worth about $25,000. Finally, Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Company Profile

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.