MasTec, Inc. (NYSE:MTZ) Receives $229.44 Average PT from Brokerages

Shares of MasTec, Inc. (NYSE:MTZ) have earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $229.4444.

MTZ has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Mizuho set a $254.00 price objective on shares of MasTec in a research report on Monday, November 3rd. UBS Group raised their target price on MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Roth Capital upped their price target on MasTec from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Jefferies Financial Group increased their price target on MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st.

Insider Activity

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the sale, the chief operating officer owned 184,249 shares of the company’s stock, valued at approximately $36,930,869.56. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $210.39, for a total transaction of $420,780.00. Following the completion of the sale, the director directly owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. The trade was a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,929 shares of company stock worth $2,822,843 in the last quarter. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in MasTec by 40.7% in the 3rd quarter. Allworth Financial LP now owns 1,247 shares of the construction company’s stock worth $265,000 after buying an additional 361 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of MasTec by 74.3% in the third quarter. Swiss Life Asset Management Ltd now owns 2,852 shares of the construction company’s stock valued at $607,000 after acquiring an additional 1,216 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of MasTec in the third quarter valued at approximately $223,000. Caerus Investment Advisors LLC acquired a new stake in shares of MasTec in the third quarter worth approximately $258,000. Finally, Captrust Financial Advisors increased its position in shares of MasTec by 30.1% during the third quarter. Captrust Financial Advisors now owns 8,863 shares of the construction company’s stock worth $1,886,000 after purchasing an additional 2,048 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Down 5.2%

Shares of MTZ stock opened at $220.86 on Wednesday. MasTec has a twelve month low of $99.70 and a twelve month high of $233.14. The stock has a market cap of $17.43 billion, a P/E ratio of 52.46 and a beta of 1.94. The stock has a 50 day moving average of $207.15 and a 200 day moving average of $188.97. The company has a current ratio of 1.33, a quick ratio of 1.30 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.