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

MasTec, Inc. (NYSE:MTZ) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $155.07.

A number of brokerages recently weighed in on MTZ. Stifel Nicolaus lifted their target price on MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen boosted their price target on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Robert W. Baird upped their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. began coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock.

MasTec Price Performance

MTZ stock opened at $155.31 on Friday. MasTec has a 52-week low of $60.96 and a 52-week high of $157.32. The stock’s fifty day simple moving average is $141.38 and its 200-day simple moving average is $124.30. 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 stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 138.67 and a beta of 1.74.

Insider Activity

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

Institutional Investors Weigh In On MasTec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its position in MasTec by 82.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,824 shares of the construction company’s stock worth $1,065,000 after buying an additional 3,527 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of MasTec by 6.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,397 shares of the construction company’s stock valued at $1,687,000 after acquiring an additional 724 shares during the last quarter. UMB Bank n.a. raised its stake in shares of MasTec by 29.8% in the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after acquiring an additional 113 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new stake in shares of MasTec in the fourth quarter valued at approximately $221,000. Finally, Kera Capital Partners Inc. acquired a new stake in shares of MasTec in the fourth quarter valued at approximately $253,000. 78.10% of the stock is owned by institutional investors and hedge funds.

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.