Robert W. Baird lowered shares of MasTec (NYSE:MTZ) from an outperform rating to a neutral rating in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have $50.67 target price on the construction company’s stock.

MTZ has been the subject of several other reports. Citigroup set a $70.00 price objective on MasTec and gave the stock a buy rating in a research report on Monday, November 5th. Canaccord Genuity reaffirmed a buy rating and set a $65.00 price objective on shares of MasTec in a research report on Friday, August 3rd. ValuEngine cut MasTec from a hold rating to a sell rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research cut MasTec from a buy rating to a hold rating in a research report on Thursday, August 9th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $60.42.

MTZ traded down $0.93 on Friday, hitting $49.74. 13,629,829 shares of the company were exchanged, compared to its average volume of 1,289,239. MasTec has a twelve month low of $39.83 and a twelve month high of $55.53. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.68 and a beta of 1.43. 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 released its earnings results on Thursday, November 1st. The construction company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the firm posted $0.82 EPS. MasTec’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts anticipate that MasTec will post 3.65 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in MTZ. Chicago Partners Investment Group LLC boosted its position in shares of MasTec by 79.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock worth $141,000 after acquiring an additional 1,225 shares in the last quarter. Profit Investment Management LLC lifted its holdings in shares of MasTec by 2.6% in the 3rd quarter. Profit Investment Management LLC now owns 51,101 shares of the construction company’s stock valued at $161,000 after purchasing an additional 1,304 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of MasTec in the 2nd quarter valued at about $203,000. UBP Investment Advisors SA purchased a new stake in shares of MasTec in the 3rd quarter valued at about $223,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of MasTec by 66.7% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,700 shares of the construction company’s stock valued at $239,000 after purchasing an additional 1,880 shares during the last quarter. 83.27% of the stock is 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, 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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Analyst Recommendations for MasTec (NYSE:MTZ)

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