Guggenheim Initiates Coverage on MasTec (NYSE:MTZ)

Guggenheim started coverage on shares of MasTec (NYSE:MTZ) in a report issued on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $195.00 target price on the construction company’s stock.

A number of other equities analysts have also recently weighed in on the company. KeyCorp upped their price target on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Citigroup upped their target price on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. B. Riley reiterated a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, UBS Group increased their price objective on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.07.

MasTec Stock Up 0.2 %

MTZ opened at $146.72 on Wednesday. The company has a fifty day moving average of $138.82 and a two-hundred day moving average of $122.01. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 131.00 and a beta of 1.74. MasTec has a fifty-two week low of $60.96 and a fifty-two week high of $150.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Insider Buying and Selling at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now directly owns 42,478 shares in the company, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This represents a 8.80 % 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 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 added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in MasTec during the third quarter worth $25,000. DekaBank Deutsche Girozentrale acquired a new position in MasTec during the 2nd quarter worth about $40,000. UMB Bank n.a. lifted its stake in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares in the last quarter. True Wealth Design LLC purchased a new position in MasTec during the 3rd quarter valued at about $57,000. Finally, GAMMA Investing LLC grew its position in MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds 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.