MasTec (NYSE:MTZ) Coverage Initiated by Analysts at Guggenheim

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

A number of other research firms also recently commented on MTZ. B. Riley reaffirmed a “buy” rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Craig Hallum raised their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.07.

MasTec Price Performance

NYSE:MTZ opened at $144.72 on Wednesday. The company has a 50-day moving average of $139.83 and a 200-day moving average of $122.35. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 129.21 and a beta of 1.74. MasTec has a 52 week low of $60.96 and a 52 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 related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MasTec

A number of large investors have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new stake in MasTec in the fourth quarter valued at $485,000. GAMMA Investing LLC raised its position in shares of MasTec by 24.4% in the fourth quarter. GAMMA Investing LLC now owns 637 shares of the construction company’s stock valued at $87,000 after purchasing an additional 125 shares during the period. Versant Capital Management Inc raised its position in shares of MasTec by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 688 shares of the construction company’s stock valued at $94,000 after purchasing an additional 342 shares during the period. Tidal Investments LLC raised its position in shares of MasTec by 5.7% in the third quarter. Tidal Investments LLC now owns 10,912 shares of the construction company’s stock valued at $1,343,000 after purchasing an additional 585 shares during the period. Finally, Blankinship & Foster LLC bought a new position in shares of MasTec in the third quarter valued at about $246,000. 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.