Shares of MasTec, Inc. (NYSE:MTZ - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $143.30 and last traded at $143.12, with a volume of 72544 shares trading hands. The stock had previously closed at $140.63.
Analyst Ratings Changes
Several analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a report on Monday, October 7th. They issued an "overweight" rating and a $153.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, October 10th. UBS Group upped their price objective on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. TD Cowen upped their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and a consensus price target of $148.62.
Check Out Our Latest Analysis on MasTec
MasTec Price Performance
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 stock's 50-day simple moving average is $121.40 and its two-hundred day simple moving average is $111.17. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 126.46 and a beta of 1.70.
Insiders Place Their Bets
In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares of the company's stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,823 shares of company stock worth $5,558,301. Company insiders own 21.30% of the company's stock.
Institutional Investors Weigh In On MasTec
Hedge funds have recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the second quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock valued at $39,000 after purchasing an additional 144 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of MasTec in the second quarter valued at about $40,000. UMB Bank n.a. grew its holdings in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after purchasing an additional 120 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company's stock valued at $57,000 after purchasing an additional 598 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.
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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