Analysts Set MasTec, Inc. (NYSE:MTZ) Price Target at $229.44

Shares of MasTec, Inc. (NYSE:MTZ) have been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $229.4444.

MTZ has been the topic of a number of recent analyst reports. Guggenheim reissued a “neutral” rating and issued a $215.00 price objective on shares of MasTec in a research note on Wednesday, October 15th. Barclays lifted their target price on MasTec from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. The Goldman Sachs Group increased their price target on MasTec from $195.00 to $227.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. KeyCorp raised their price objective on shares of MasTec from $236.00 to $246.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Roth Capital lifted their price objective on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th.

MasTec Price Performance

MTZ stock opened at $193.22 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 57.16 and a beta of 1.88. The company’s fifty day simple moving average is $203.12 and its 200 day simple moving average is $180.96. MasTec has a 12-month low of $99.70 and a 12-month high of $224.03.

Insider Buying and Selling at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares in the company, valued at approximately $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Robert Campbell sold 2,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $210.39, for a total transaction of $420,780.00. Following the transaction, the director directly owned 33,277 shares in the company, valued at $7,001,148.03. This trade represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,929 shares of company stock valued at $3,394,013. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently added to or reduced their stakes in MTZ. Brighton Jones LLC acquired a new position in shares of MasTec during the fourth quarter worth approximately $227,000. Envestnet Asset Management Inc. increased its stake in MasTec by 32.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 45,736 shares of the construction company’s stock valued at $5,338,000 after purchasing an additional 11,143 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in MasTec by 16.3% during the first quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company’s stock worth $87,000 after buying an additional 104 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of MasTec by 24.1% in the first quarter. Cerity Partners LLC now owns 30,088 shares of the construction company’s stock valued at $3,512,000 after buying an additional 5,835 shares in the last quarter. Finally, Securian Asset Management Inc. grew its holdings in shares of MasTec by 2.2% during the first quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company’s stock valued at $551,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds 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.