Short Interest in MasTec, Inc. (NYSE:MTZ) Decreases By 14.5%

MasTec, Inc. (NYSE:MTZ) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,940,000 shares, a decrease of 14.5% from the December 15th total of 2,270,000 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average trading volume of 840,600 shares, the days-to-cover ratio is presently 2.3 days.

MasTec Stock Down 0.0 %

MasTec stock traded down $0.01 during midday trading on Friday, reaching $155.31. The company’s stock had a trading volume of 771,673 shares, compared to its average volume of 699,861. The business has a 50-day simple moving average of $141.38 and a 200-day simple moving average of $124.14. The company has a market cap of $12.31 billion, a P/E ratio of 138.67 and a beta of 1.74. MasTec has a fifty-two week low of $60.96 and a fifty-two week high of $157.32. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the sale, the chief operating officer now owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 transaction, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,023 shares of company stock worth $4,515,089 over the last 90 days. 21.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MasTec

Several hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in shares of MasTec by 82.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,824 shares of the construction company’s stock valued at $1,065,000 after acquiring an additional 3,527 shares during the period. Crossmark Global Holdings Inc. raised its position in MasTec by 6.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 12,397 shares of the construction company’s stock valued at $1,687,000 after purchasing an additional 724 shares during the last quarter. UMB Bank n.a. boosted its stake in MasTec by 29.8% during the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock worth $67,000 after purchasing an additional 113 shares during the period. Aaron Wealth Advisors LLC purchased a new position in MasTec during the 4th quarter worth $221,000. Finally, Kera Capital Partners Inc. purchased a new position in MasTec during the 4th quarter worth $253,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

MTZ has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. KeyCorp lifted their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Guggenheim initiated coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price for the company. Citigroup lifted their price target on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus increased their price objective on MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.07.

MasTec Company Profile

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.