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

Shares of MasTec, Inc. (NYSE:MTZ) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $148.62.

Several brokerages have issued reports on MTZ. TD Cowen increased their price objective 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. Citigroup increased their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley reiterated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Robert W. Baird increased their target price on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, DA Davidson increased their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

MasTec Stock Down 0.3 %

Shares of NYSE:MTZ opened at $144.06 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a 52-week low of $57.38 and a 52-week high of $150.12. The company has a 50 day moving average of $131.17 and a two-hundred day moving average of $116.08. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 128.63 and a beta of 1.70.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,823 shares of company stock worth $7,493,301 over the last ninety days. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after buying an additional 895,227 shares during the last quarter. State Street Corp increased its holdings in shares of MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares during the period. Hood River Capital Management LLC increased its holdings in shares of MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. Geode Capital Management LLC increased its holdings in shares of MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares during the period. 78.10% of the stock is currently owned by institutional investors.

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.