Robert W. Baird Cuts MasTec (NYSE:MTZ) Price Target to $153.00

MasTec (NYSE:MTZ) had its price target decreased by Robert W. Baird from $162.00 to $153.00 in a report released on Monday,Benzinga reports. Robert W. Baird currently has a neutral rating on the construction company’s stock.

Several other brokerages also recently commented on MTZ. Craig Hallum raised their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. KeyCorp raised their price target on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. B. Riley reissued a “buy” rating and issued a $166.00 price target (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Truist Financial raised their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average price target of $160.14.

MasTec Stock Up 3.3 %

MTZ opened at $128.03 on Monday. The company has a 50 day moving average of $141.10 and a 200 day moving average of $131.97. The company has a market cap of $10.14 billion, a PE ratio of 114.31 and a beta of 1.73. MasTec has a 12 month low of $82.29 and a 12 month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, sell-side analysts expect that MasTec will post 3.44 EPS for the current year.

Institutional Trading of MasTec

Several institutional investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. purchased a new stake in MasTec during the fourth quarter valued at about $3,036,000. Forum Financial Management LP boosted its position in MasTec by 23.8% during the fourth quarter. Forum Financial Management LP now owns 2,019 shares of the construction company’s stock valued at $275,000 after buying an additional 388 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of MasTec during the fourth quarter valued at about $49,000. Focus Partners Advisor Solutions LLC bought a new position in shares of MasTec during the fourth quarter valued at about $213,000. Finally, PharVision Advisers LLC bought a new position in shares of MasTec during the fourth quarter valued at about $224,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.