MasTec, Inc. (NYSE:MTZ) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

MasTec, Inc. (NYSE:MTZ – Get Free Report) has received an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $150.23.

MTZ has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. B. Riley restated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. KeyCorp raised their price target on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th.

Get Our Latest Analysis on MTZ

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,823 shares of company stock valued at $4,619,121. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several institutional investors and hedge funds have recently bought and sold shares of MTZ. Wilmington Savings Fund Society FSB bought a new position in shares of MasTec during the third quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale purchased a new position in MasTec during the 2nd quarter valued at $40,000. UMB Bank n.a. raised its holdings in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of MasTec in the 3rd quarter worth about $57,000. Finally, GAMMA Investing LLC boosted its stake in shares of MasTec by 39.9% during the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of NYSE:MTZ opened at $136.14 on Wednesday. The company has a 50 day moving average of $136.74 and a 200 day moving average of $120.84. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $10.79 billion, a P/E ratio of 121.55 and a beta of 1.72. MasTec has a 12 month low of $60.96 and a 12 month high of $150.12.

About MasTec

(Get Free Report

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.

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