MasTec (NYSE:MTZ) Earns Buy Rating from Analysts at Guggenheim

Investment analysts at Guggenheim started coverage on shares of MasTec (NYSE:MTZ) in a research note issued 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 points to a potential upside of 33.45% from the company’s current price.

MTZ has been the subject of several other reports. Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. UBS Group lifted their target price on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. TD Cowen lifted their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. KeyCorp lifted their target price on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Citigroup lifted their target price on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and a consensus target price of $153.43.

MasTec Stock Performance

Shares of MTZ opened at $146.12 on Wednesday. The company has a 50-day simple moving average of $138.82 and a two-hundred day simple moving average of $122.01. MasTec has a one year low of $60.96 and a one year high of $150.55. The firm has a market capitalization of $11.58 billion, a PE ratio of 130.46 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. The trade was a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,023 shares of company stock valued at $4,515,089. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. bought a new position in MasTec in the 2nd quarter worth $79,494,000. Hood River Capital Management LLC boosted its holdings in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in MasTec by 266.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after buying an additional 289,090 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after buying an additional 279,778 shares during the period. Institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.