MasTec, Inc. (NYSE:MTZ) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of MasTec, Inc. (NYSE:MTZ) have been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $229.4444.

MTZ has been the topic of a number of analyst reports. Mizuho set a $254.00 price objective on shares of MasTec in a report on Monday, November 3rd. Truist Financial lifted their target price on MasTec from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. KeyCorp lifted 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. JPMorgan Chase & Co. raised their target price on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Jefferies Financial Group lifted their price objective on MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st.

Insider Buying and Selling

In related news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total value of $397,663.35. Following the completion of the transaction, the chief accounting officer directly owned 9,757 shares in the company, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the transaction, the chief operating officer directly owned 184,249 shares of the company’s stock, valued at $36,930,869.56. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,929 shares of company stock valued at $3,394,013. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in MasTec by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,007,192 shares of the construction company’s stock valued at $1,278,391,000 after purchasing an additional 34,899 shares during the period. Hill City Capital LP boosted its position in shares of MasTec by 0.7% during the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company’s stock valued at $250,343,000 after acquiring an additional 15,000 shares during the last quarter. Invesco Ltd. boosted its position in shares of MasTec by 6.1% during the 2nd quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock valued at $300,817,000 after acquiring an additional 102,072 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of MasTec by 8.9% in the second quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after purchasing an additional 138,269 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in MasTec by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company’s stock valued at $142,331,000 after purchasing an additional 39,622 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 0.3%

MTZ stock opened at $219.99 on Wednesday. The stock’s 50 day moving average is $206.44 and its 200-day moving average is $187.43. MasTec has a twelve month low of $99.70 and a twelve month high of $225.49. The firm has a market capitalization of $17.36 billion, a PE ratio of 52.25 and a beta of 1.94. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

About MasTec

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.