MasTec, Inc. (NYSE:MTZ) Sees Significant Decline in Short Interest

MasTec, Inc. (NYSE:MTZ) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 1,940,000 shares, a decrease of 14.5% from the December 15th total of 2,270,000 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 840,600 shares, the short-interest ratio is presently 2.3 days.

MasTec Stock Up 1.1 %

MTZ stock opened at $155.15 on Friday. MasTec has a twelve month low of $60.96 and a twelve month high of $157.32. 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’s 50 day moving average is $141.17 and its 200-day moving average is $123.78. The firm has a market capitalization of $12.29 billion, a PE ratio of 138.53 and a beta of 1.74.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,023 shares of company stock valued at $4,515,089 in the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

A number of institutional investors and hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its position in shares of MasTec by 6.2% during 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. increased its position in shares of MasTec by 29.8% during 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 purchased a new stake in shares of MasTec during the fourth quarter valued at approximately $221,000. Kera Capital Partners Inc. purchased a new stake in shares of MasTec during the fourth quarter valued at approximately $253,000. Finally, HB Wealth Management LLC purchased a new stake in shares of MasTec during the fourth quarter valued at approximately $232,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MTZ. UBS Group increased their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. initiated coverage on MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. The Goldman Sachs Group upped their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their target price on MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, B. Riley reiterated a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.07.

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.