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

MasTec, Inc. (NYSE:MTZ) has received an average recommendation of “Buy” from the twenty-one research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $238.1579.

Several research firms have issued reports on MTZ. Robert W. Baird lifted their price target on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Barclays lifted their target price on MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. KeyCorp reaffirmed an “overweight” rating and set a $264.00 target price on shares of MasTec in a report on Wednesday, January 7th. Wall Street Zen upgraded MasTec from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Truist Financial boosted their price objective on MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, December 18th.

Insider Buying and Selling

In related news, CAO Timothy Michael Love sold 1,929 shares of the firm’s 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 owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several hedge funds and other institutional investors have recently modified their holdings of MTZ. Allspring Global Investments Holdings LLC raised its holdings in MasTec by 92.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock valued at $13,981,000 after acquiring an additional 31,218 shares in the last quarter. Bridge City Capital LLC increased its position in shares of MasTec by 27.2% during the second quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock valued at $8,412,000 after purchasing an additional 10,565 shares during the period. Schroder Investment Management Group acquired a new position in shares of MasTec in the second quarter valued at $12,366,000. Sterling Capital Management LLC lifted its position in MasTec by 16.3% in the second quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock worth $13,472,000 after purchasing an additional 11,071 shares during the period. Finally, Osaic Holdings Inc. lifted its position in MasTec by 71.6% in the second quarter. Osaic Holdings Inc. now owns 30,118 shares of the construction company’s stock worth $5,132,000 after purchasing an additional 12,567 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MasTec stock opened at $245.13 on Thursday. MasTec has a 52 week low of $99.70 and a 52 week high of $250.99. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The stock has a market cap of $19.34 billion, a PE ratio of 58.23 and a beta of 1.91. The company’s 50-day moving average price is $223.72 and its two-hundred day moving average price is $203.50.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.