MasTec, Inc. (NYSE:MTZ) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of MasTec, Inc. (NYSE:MTZ) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $148.62.

Several analysts have weighed in on MTZ shares. UBS Group upped their target price on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 10th. DA Davidson upped their price target on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial raised shares of MasTec from a “hold” rating to a “buy” rating and raised their price objective for the stock from $133.00 to $173.00 in a research note on Tuesday, November 5th. Finally, Citigroup upped 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.

MasTec Stock Performance

MTZ opened at $144.89 on Tuesday. MasTec has a 1-year low of $47.02 and a 1-year high of $145.74. The stock has a market cap of $11.48 billion, a P/E ratio of 129.37 and a beta of 1.70. The stock’s 50 day simple moving average is $122.03 and its 200 day simple moving average is $111.77. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 of the company’s stock, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock worth $5,558,301 over the last quarter. 21.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Susquehanna Fundamental Investments LLC purchased a new position in shares of MasTec in the 1st quarter worth about $785,000. Swedbank AB acquired a new position in MasTec during the first quarter valued at approximately $5,287,000. Interval Partners LP purchased a new stake in MasTec during the first quarter worth approximately $4,230,000. Boston Partners acquired a new stake in shares of MasTec in the first quarter worth $748,000. Finally, Texas Permanent School Fund Corp increased its position in shares of MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after acquiring an additional 4,716 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.