MasTec, Inc. (NYSE:MTZ) Receives $155.07 Consensus Target Price from Analysts

MasTec, Inc. (NYSE:MTZ) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $155.07.

A number of analysts have issued reports on the company. Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price target for the company. KeyCorp boosted their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, TD Cowen upped their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,023 shares of company stock worth $4,515,089. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Hedge funds have recently added to or reduced their stakes in the business. Atom Investors LP lifted its holdings in shares of MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after purchasing an additional 55,363 shares in the last quarter. State Street Corp raised its position in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Makena Capital Management LLC lifted its stake in MasTec by 41.4% in the 3rd quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock valued at $10,728,000 after buying an additional 25,532 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in MasTec during the 3rd quarter valued at $1,470,000. Finally, Charles Schwab Investment Management Inc. increased its position in MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after buying an additional 7,469 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Trading Up 3.8 %

NYSE MTZ opened at $160.84 on Friday. MasTec has a 52 week low of $60.96 and a 52 week high of $161.05. The firm has a 50 day moving average of $142.01 and a two-hundred day moving average of $125.25. 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 has a market capitalization of $12.74 billion, a PE ratio of 143.61 and a beta of 1.74.

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.