MasTec, Inc. (NYSE:MTZ) Receives $232.06 Average PT from Analysts

Shares of MasTec, Inc. (NYSE:MTZ) have received a consensus recommendation of “Buy” from the twenty-one brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $233.0556.

MTZ has been the subject of a number of recent research reports. Wolfe Research raised shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Wednesday, September 17th. Truist Financial increased their price target on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Stifel Nicolaus lifted their price target on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Guggenheim restated a “neutral” rating and set a $215.00 price objective on shares of MasTec in a research report on Wednesday, October 15th. Finally, Jefferies Financial Group raised their price objective on MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st.

Insider Transactions at MasTec

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasTec

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in MasTec by 429.2% during the 4th quarter. SG Americas Securities LLC now owns 29,769 shares of the construction company’s stock valued at $6,471,000 after purchasing an additional 24,144 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of MasTec by 4.7% during 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 buying an additional 957 shares during the period. NorthCrest Asset Manangement LLC grew its stake in shares of MasTec by 0.4% during the fourth 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 raised its holdings in shares of MasTec by 3.7% in the fourth quarter. Oliver Luxxe Assets LLC now owns 16,425 shares of the construction company’s stock worth $3,570,000 after buying an additional 584 shares during the period. Finally, Sprinkle Financial Consultants LLC purchased a new stake in shares of MasTec in the fourth quarter worth approximately $383,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 0.1%

NYSE MTZ opened at $218.78 on Friday. The stock has a 50 day moving average price of $212.84 and a 200-day moving average price of $197.26. MasTec has a one year low of $99.70 and a one year high of $237.76. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The company has a market capitalization of $17.26 billion, a P/E ratio of 51.97 and a beta of 1.91.

About MasTec

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.