B. Riley Reaffirms “Buy” Rating for MasTec (NYSE:MTZ)

MasTec (NYSE:MTZ)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a note issued to investors on Tuesday, Benzinga reports. They presently have a $166.00 price objective on the construction company’s stock, up from their prior price objective of $151.00. B. Riley’s price objective indicates a potential upside of 18.04% from the stock’s current price.

A number of other research firms have also recently commented on MTZ. JPMorgan Chase & Co. started coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. UBS Group upped their price objective on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird upped their price target on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, KeyCorp lifted their price objective on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

MasTec Stock Performance

Shares of MasTec stock opened at $140.63 on Tuesday. The firm has a market cap of $11.14 billion, a PE ratio of 125.56 and a beta of 1.70. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a 52 week low of $46.70 and a 52 week high of $140.98. The business’s fifty day simple moving average is $120.78 and its 200-day simple moving average is $110.95.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other MasTec news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock valued at $5,558,301 over the last 90 days. 21.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Hobbs Group Advisors LLC acquired a new position in MasTec during the second quarter worth approximately $27,000. DekaBank Deutsche Girozentrale acquired a new position in MasTec during the second quarter worth $40,000. GAMMA Investing LLC lifted its holdings in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares during the period. UMB Bank n.a. boosted its position in shares of 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 purchasing an additional 120 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

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.