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

MasTec, Inc. (NYSE:MTZ) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $158.57.

Several equities analysts have recently commented on MTZ shares. Citigroup increased 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. Craig Hallum increased their price objective on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Robert W. Baird boosted 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. KeyCorp increased their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, Truist Financial lifted their price target on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th.

MasTec Trading Down 1.7 %

Shares of MTZ opened at $137.97 on Thursday. MasTec has a one year low of $68.68 and a one year high of $166.95. The stock has a 50-day moving average price of $142.76 and a 200 day moving average price of $129.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $10.93 billion, a P/E ratio of 123.19 and a beta of 1.73.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTZ. ExodusPoint Capital Management LP bought a new stake in shares of MasTec during the fourth quarter valued at approximately $3,000,000. Trexquant Investment LP raised its stake in MasTec by 37.0% during the 4th quarter. Trexquant Investment LP now owns 131,878 shares of the construction company’s stock valued at $17,954,000 after acquiring an additional 35,638 shares in the last quarter. National Bank of Canada FI acquired a new position in MasTec during the 4th quarter worth $1,988,000. Franklin Resources Inc. bought a new position in shares of MasTec in the fourth quarter worth $1,191,000. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of MasTec by 13.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,020 shares of the construction company’s stock worth $1,092,000 after purchasing an additional 963 shares in the last quarter. 78.10% of the stock is 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.