MasTec, Inc. (NYSE:MTZ)’s share price fell 5.3% on Wednesday . The stock traded as low as $42.73 and last traded at $43.22. 1,594,286 shares traded hands during trading, an increase of 72% from the average session volume of 925,659 shares. The stock had previously closed at $45.64.
Several research firms have recently weighed in on MTZ. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Monday, October 22nd. Robert W. Baird reiterated a “hold” rating and set a $49.00 price objective on shares of MasTec in a report on Monday, January 7th. ValuEngine upgraded MasTec from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Canaccord Genuity cut their price objective on MasTec from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $60.70.
The stock has a market cap of $3.66 billion, a PE ratio of 15.76, a P/E/G ratio of 1.39 and a beta of 1.40. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.94 and a quick ratio of 1.85.
Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in MasTec by 138.9% in the 4th quarter. IFP Advisors Inc now owns 989 shares of the construction company’s stock valued at $40,000 after buying an additional 575 shares during the last quarter. Strs Ohio raised its position in MasTec by 19.4% in the 4th quarter. Strs Ohio now owns 4,300 shares of the construction company’s stock valued at $174,000 after buying an additional 700 shares during the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in MasTec in the 4th quarter valued at approximately $217,000. B. Riley Wealth Management Inc. acquired a new stake in MasTec in the 3rd quarter valued at approximately $211,000. Finally, UBP Investment Advisors SA acquired a new stake in MasTec in the 3rd quarter valued at approximately $223,000. 84.90% of the stock is currently owned by institutional investors and hedge funds.
About MasTec (NYSE:MTZ)
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
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