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

Shares of MasTec, Inc. (NYSE:MTZ) have been given a consensus rating of “Buy” by the twenty-one brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $233.0556.

MTZ has been the topic of several research reports. Jefferies Financial Group raised their price target on shares of MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Truist Financial increased their price objective on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Barclays lifted their target price on shares of MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Finally, Robert W. Baird raised their price objective on MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd.

Insider Activity at MasTec

In related news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of MasTec by 4.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,119 shares of the construction company’s stock valued at $5,047,000 after purchasing an additional 957 shares during the period. NorthCrest Asset Manangement LLC boosted its position in MasTec by 0.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 14,882 shares of the construction company’s stock valued at $3,461,000 after buying an additional 54 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of MasTec by 3.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 16,425 shares of the construction company’s stock valued at $3,570,000 after acquiring an additional 584 shares in the last quarter. Sprinkle Financial Consultants LLC purchased a new stake in shares of MasTec during the fourth quarter worth about $383,000. Finally, Argent Capital Management LLC purchased a new stake in shares of MasTec during the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $219.89 on Friday. The business has a 50-day moving average of $212.56 and a two-hundred day moving average of $196.71. The firm has a market capitalization of $17.35 billion, a PE ratio of 52.23 and a beta of 1.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. MasTec has a 12 month low of $99.70 and a 12 month high of $237.76.

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.