MasTec (NYSE:MTZ) Now Covered by Guggenheim

Guggenheim assumed coverage on shares of MasTec (NYSE:MTZ) in a report released on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $195.00 price target on the construction company’s stock. Guggenheim’s target price would suggest a potential upside of 32.91% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. UBS Group lifted their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp boosted their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Robert W. Baird raised their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective on the stock. Finally, B. Riley reissued a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.07.

MasTec Trading Up 0.2 %

MasTec stock opened at $146.72 on Wednesday. MasTec has a 12-month low of $60.96 and a 12-month high of $150.55. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market capitalization of $11.63 billion, a PE ratio of 131.00 and a beta of 1.74. The firm has a 50 day simple moving average of $139.36 and a 200-day simple moving average of $122.18.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The shares were 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 owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 197,202 shares in the company, 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. Over the last quarter, insiders have sold 32,023 shares of company stock worth $4,515,089. 21.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MTZ. CIBC Asset Management Inc lifted its holdings in shares of MasTec by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after buying an additional 82 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in MasTec by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after acquiring an additional 94 shares during the last quarter. New York State Teachers Retirement System grew its position in MasTec by 0.4% in the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after acquiring an additional 100 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after purchasing an additional 101 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of MasTec by 46.3% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors 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.