MasTec (MTZ) Shares Down 5.3%

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.



MasTec (NYSE:MTZ) last announced its earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. MasTec had a return on equity of 17.01% and a net margin of 5.89%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $0.82 EPS. MasTec’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that MasTec, Inc. will post 3.64 earnings per share for the current year.

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.

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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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