MasTec (NYSE:MTZ) Coverage Initiated at Guggenheim

Analysts at Guggenheim began coverage on shares of MasTec (NYSE:MTZ) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $195.00 price target on the construction company’s stock. Guggenheim’s price target indicates a potential upside of 33.45% from the stock’s current price.

Several other brokerages have also recently commented on MTZ. Truist Financial boosted their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. B. Riley restated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Robert W. Baird upped their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. UBS Group upped their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen upped their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.43.

MasTec Stock Down 1.4 %

Shares of MTZ stock opened at $146.12 on Wednesday. The stock has a market cap of $11.58 billion, a P/E ratio of 130.46 and a beta of 1.74. MasTec has a 52 week low of $60.96 and a 52 week high of $150.55. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company’s fifty day simple moving average is $138.82 and its two-hundred day simple moving average is $122.01.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MasTec

A number of hedge funds have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC purchased a new stake in MasTec in the fourth quarter worth about $485,000. GAMMA Investing LLC lifted its position in shares of MasTec by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 637 shares of the construction company’s stock valued at $87,000 after buying an additional 125 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of MasTec by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 688 shares of the construction company’s stock valued at $94,000 after buying an additional 342 shares during the last quarter. Tidal Investments LLC lifted its position in shares of MasTec by 5.7% during the third quarter. Tidal Investments LLC now owns 10,912 shares of the construction company’s stock valued at $1,343,000 after buying an additional 585 shares during the last quarter. Finally, Blankinship & Foster LLC purchased a new stake in shares of MasTec during the third quarter valued at about $246,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.