Guggenheim Begins Coverage on MasTec (NYSE:MTZ)

Investment analysts at Guggenheim initiated coverage on shares of MasTec (NYSE:MTZ) in a research note issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $195.00 price target on the construction company’s stock. Guggenheim’s target price indicates a potential upside of 32.91% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. The Goldman Sachs Group increased their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective on the stock. B. Riley restated a “buy” rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird upped their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $155.07.

MasTec Stock Up 0.2 %

Shares of MasTec stock opened at $146.72 on Wednesday. The company has a fifty day moving average price of $139.36 and a 200 day moving average price of $122.18. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a twelve month low of $60.96 and a twelve month high of $150.55. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 131.00 and a beta of 1.74.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. This represents a 6.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,023 shares of company stock valued at $4,515,089. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the 3rd quarter worth about $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec in the second quarter valued at approximately $40,000. UMB Bank n.a. raised its holdings in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of MasTec during the third quarter worth approximately $57,000. Finally, GAMMA Investing LLC grew its holdings in MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $63,000 after buying an additional 146 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

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.