Robert W. Baird Issues Pessimistic Forecast for MasTec (NYSE:MTZ) Stock Price

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

A number of other equities analysts also recently issued reports on MTZ. Guggenheim assumed coverage on shares of MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target for the company. TD Cowen increased their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus upped their price objective on shares of MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Craig Hallum upped their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.14.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $128.03 on Monday. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 114.31 and a beta of 1.73. The company has a 50-day moving average price of $141.10 and a 200-day moving average price of $131.97. 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 has a 12 month low of $82.29 and a 12 month high of $166.95.

MasTec (NYSE:MTZ) last released 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 net margin of 0.73% and a return on equity of 8.27%. 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 anticipate that MasTec will post 3.44 EPS for the current year.

Institutional Investors Weigh In On MasTec

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its holdings in MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after purchasing an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after purchasing an additional 8,948 shares during the last quarter. Atom Investors LP boosted its holdings in MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after purchasing an additional 55,363 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after purchasing an additional 13,241 shares during the last quarter. Finally, State Street Corp boosted its holdings in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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.