MasTec (NYSE:MTZ) Price Target Cut to $152.00 by Analysts at Citigroup

MasTec (NYSE:MTZ - Get Free Report) had its price target dropped by analysts at Citigroup from $167.00 to $152.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Citigroup's price objective indicates a potential upside of 20.57% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Piper Sandler assumed coverage on MasTec in a report on Tuesday, April 8th. They set an "overweight" rating and a $134.00 price objective for the company. Truist Financial dropped their price target on shares of MasTec from $197.00 to $154.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Finally, Barclays boosted their target price on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $151.00.

MasTec Stock Performance

NYSE:MTZ traded down $1.35 during midday trading on Friday, reaching $126.07. The stock had a trading volume of 313,269 shares, compared to its average volume of 936,348. MasTec has a 1-year low of $86.12 and a 1-year high of $166.95. The stock has a market capitalization of $9.97 billion, a P/E ratio of 112.56 and a beta of 1.62. The firm's fifty day simple moving average is $120.08 and its 200-day simple moving average is $132.48. 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 (NYSE:MTZ - Get Free Report) last released its quarterly 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. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.32 billion. On average, equities research analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTZ. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the third quarter valued at approximately $25,000. Ameliora Wealth Management Ltd. acquired a new position in MasTec in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Colonial Trust Co SC grew its stake in MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after purchasing an additional 263 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.