MasTec, Inc. (NYSE:MTZ) Sees Significant Decrease in Short Interest

MasTec, Inc. (NYSE:MTZ - Get Free Report) was the recipient of a large decrease in short interest during 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. Based on an average daily volume of 840,600 shares, the short-interest ratio is presently 2.3 days. Currently, 3.2% of the company's stock are sold short.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated 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 owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction that occurred 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 owns 197,202 shares of the company's stock, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,023 shares of company stock worth $4,515,089. Insiders own 21.30% of the company's stock.

Hedge Funds Weigh In On MasTec

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

MasTec Price Performance

Shares of MasTec stock traded up $1.61 during trading hours on Thursday, reaching $155.15. The stock had a trading volume of 708,418 shares, compared to its average volume of 876,902. MasTec has a twelve month low of $60.96 and a twelve month high of $157.32. 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 firm has a market capitalization of $12.29 billion, a PE ratio of 138.53 and a beta of 1.74. The stock's 50 day moving average is $141.17 and its 200 day moving average is $123.78.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Craig Hallum raised their target price on MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Guggenheim started coverage on MasTec in a research note on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price objective for the company. Robert W. Baird upped their target price on MasTec from $120.00 to $153.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Citigroup increased their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, KeyCorp lifted their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, MasTec presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.07.

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.

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