Guggenheim started coverage on shares of MasTec (NYSE:MTZ - Get Free Report) in a research note issued on Wednesday, MarketBeat.com reports. The firm set a "buy" rating and a $195.00 price target on the construction company's stock. Guggenheim's price target suggests a potential upside of 32.91% from the company's current price.
MTZ has been the subject of several other research reports. B. Riley reaffirmed a "buy" rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. TD Cowen boosted their price target 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. KeyCorp upped their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on MasTec in a research note on Monday, October 7th. They set an "overweight" rating and a $153.00 price objective for the company. Finally, Truist Financial upped their target price on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. 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 a consensus rating of "Moderate Buy" and an average price target of $155.07.
View Our Latest Stock Report on MTZ
MasTec Price Performance
MTZ traded up $0.31 during trading on Wednesday, reaching $146.72. 885,352 shares of the company were exchanged, compared to its average volume of 925,326. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 131.00 and a beta of 1.74. MasTec has a 12-month low of $60.96 and a 12-month high of $150.55. The company's 50-day moving average is $138.82 and its two-hundred day moving average is $122.01.
Insider Buying and Selling
In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was 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 sale was disclosed in a legal 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 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 transaction, the chief operating officer now owns 197,202 shares in the company, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,023 shares of company stock worth $4,515,089 in the last 90 days. 21.30% of the stock is owned by company insiders.
Institutional Trading of MasTec
A number of institutional investors have recently made changes to their positions in MTZ. Pacer Advisors Inc. raised its holdings in MasTec by 65.6% during the 3rd 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 position in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after acquiring an additional 24,522 shares during the period. Hood River Capital Management LLC raised its stake 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 acquiring an additional 446,762 shares during the last quarter. Geode Capital Management LLC boosted 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 worth $126,370,000 after purchasing an additional 16,844 shares during the period. Finally, Point72 Asset Management L.P. boosted 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 worth $94,096,000 after purchasing an additional 279,778 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.
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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