MasTec (NYSE:MTZ) Receives “Buy” Rating from B. Riley

B. Riley reaffirmed their buy rating on shares of MasTec (NYSE:MTZ) in a report released on Tuesday morning, Benzinga reports. B. Riley currently has a $166.00 target price on the construction company’s stock, up from their previous target price of $151.00.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective for the company. The Goldman Sachs Group increased their price target on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. UBS Group raised their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Craig Hallum lifted their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Trading Up 3.0 %

Shares of NYSE:MTZ opened at $136.65 on Tuesday. The stock has a 50 day moving average of $120.16 and a 200 day moving average of $110.75. The company has a market cap of $10.83 billion, a PE ratio of 122.01 and a beta of 1.70. MasTec has a 12-month low of $46.70 and a 12-month high of $139.39. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Insider Activity

In other news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,823 shares of company stock valued at $5,558,301 in the last ninety days. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares during the period. Hood River Capital Management LLC lifted its stake in shares of MasTec by 59.8% during 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 acquiring an additional 446,762 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in shares of MasTec during the 2nd quarter worth approximately $79,494,000. Marshall Wace LLP boosted its holdings in MasTec by 4.3% during the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after acquiring an additional 29,631 shares during the period. Finally, Vontobel Holding Ltd. grew its position in MasTec by 6.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock valued at $65,414,000 after acquiring an additional 31,266 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.