MasTec (NYSE:MTZ) Given New $143.00 Price Target at Stifel Nicolaus

MasTec (NYSE:MTZ) had its price objective reduced by investment analysts at Stifel Nicolaus from $175.00 to $143.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 24.20% from the company’s current price.

MTZ has been the topic of several other reports. Barclays increased their price target on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased 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. Robert W. Baird dropped their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. KeyCorp raised their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Citigroup boosted their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.87.

MasTec Stock Down 5.5 %

NYSE MTZ opened at $115.14 on Wednesday. The stock’s 50 day simple moving average is $125.14 and its 200 day simple moving average is $133.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec has a one year low of $82.29 and a one year high of $166.95. The firm has a market cap of $9.13 billion, a PE ratio of 102.80 and a beta of 1.62.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, sell-side analysts forecast that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Hood River Capital Management LLC raised its holdings in MasTec by 3.5% during the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company’s stock worth $208,444,000 after buying an additional 51,531 shares during the period. Geode Capital Management LLC lifted its stake in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after buying an additional 16,844 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company’s stock valued at $106,117,000 after buying an additional 91,564 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in shares of MasTec by 137.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after acquiring an additional 363,502 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

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.