MasTec (NYSE:MTZ) Coverage Initiated by Analysts at Guggenheim

Guggenheim initiated coverage on shares of MasTec (NYSE:MTZ) in a report issued on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $195.00 price target on the construction company’s stock.

A number of other analysts have also issued reports on MTZ. KeyCorp boosted 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. Robert W. Baird increased their price target on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. began coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.07.

MasTec Price Performance

Shares of MTZ stock opened at $146.72 on Wednesday. MasTec has a 52-week low of $60.96 and a 52-week high of $150.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The firm has a market capitalization of $11.63 billion, a P/E ratio of 131.00 and a beta of 1.74. The stock has a 50 day moving average price of $138.82 and a 200 day moving average price of $122.01.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,023 shares of company stock worth $4,515,089 in the last three months. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWA Asset Management Group LLC purchased a new stake in shares of MasTec in the 4th quarter valued at $485,000. GAMMA Investing LLC lifted its position in MasTec by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 637 shares of the construction company’s stock valued at $87,000 after purchasing an additional 125 shares during the period. Versant Capital Management Inc lifted its position in MasTec by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 688 shares of the construction company’s stock valued at $94,000 after purchasing an additional 342 shares during the period. Tidal Investments LLC boosted its holdings in MasTec by 5.7% in the third quarter. Tidal Investments LLC now owns 10,912 shares of the construction company’s stock valued at $1,343,000 after purchasing an additional 585 shares during the last quarter. Finally, Blankinship & Foster LLC acquired a new stake in MasTec during the 3rd quarter worth about $246,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.