B. Riley Reiterates Buy Rating for MasTec (NYSE:MTZ)

MasTec (NYSE:MTZ - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at B. Riley in a report issued on Tuesday, Benzinga reports. They currently have a $166.00 price objective on the construction company's stock, up from their previous price objective of $151.00. B. Riley's price target would indicate a potential upside of 21.58% from the company's previous close.

MTZ has been the topic of several other research reports. KeyCorp boosted their price target on MasTec from $123.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Craig Hallum boosted their price target on MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday. DA Davidson boosted their target price on MasTec from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Citigroup boosted their price target on MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Finally, 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. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $148.62.

MasTec Trading Up 3.0 %

MTZ traded up $3.93 during midday trading on Tuesday, reaching $136.54. 834,424 shares of the company were exchanged, compared to its average volume of 852,996. The stock has a market capitalization of $10.82 billion, a P/E ratio of 121.70 and a beta of 1.70. The stock's 50-day simple moving average is $119.64 and its 200 day simple moving average is $110.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a one year low of $46.70 and a one year high of $139.39.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was 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 owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Robert E. Apple sold 800 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,800 shares of company stock worth $2,978,212. Corporate insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in MasTec by 156.6% in the 1st quarter. BNP Paribas Financial Markets now owns 19,359 shares of the construction company's stock valued at $1,805,000 after buying an additional 11,816 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of MasTec during the 1st quarter worth $463,000. Jennison Associates LLC acquired a new stake in MasTec during the 1st quarter worth $231,000. Texas Permanent School Fund Corp increased its stake in MasTec by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company's stock valued at $4,924,000 after purchasing an additional 817 shares during the period. Finally, Kayne Anderson Capital Advisors LP acquired a new position in MasTec in the first quarter valued at $843,000. Institutional investors and hedge funds own 78.10% of the company's stock.

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.