MasTec (NYSE:MTZ) Research Coverage Started at Guggenheim

Guggenheim initiated coverage on shares of MasTec (NYSE:MTZ) in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $195.00 price objective on the construction company’s stock.

MTZ has been the subject of a number of other research reports. Truist Financial upped their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Craig Hallum upped their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Citigroup upped their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. TD Cowen upped their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Robert W. Baird upped their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.07.

MasTec Price Performance

Shares of NYSE:MTZ opened at $144.72 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a fifty-two week low of $60.96 and a fifty-two week high of $150.55. The firm has a 50-day simple moving average of $139.83 and a 200 day simple moving average of $122.35. The company has a market cap of $11.47 billion, a PE ratio of 129.21 and a beta of 1.74.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the transaction, the chief operating officer now owns 197,202 shares in the company, valued at $26,746,507.26. This represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm’s 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 transaction, the director now owns 42,478 shares in the company, valued at $6,159,310. The trade was a 6.60 % 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTZ. Wilmington Savings Fund Society FSB acquired a new position in MasTec in the 3rd quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new position in MasTec in the 2nd quarter valued at $40,000. UMB Bank n.a. grew its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares during the last quarter. True Wealth Design LLC acquired a new position in MasTec in the 3rd quarter valued at $57,000. Finally, GAMMA Investing LLC boosted its holdings in MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after purchasing an additional 146 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.