MasTec, Inc. (NYSE:MTZ) Receives Consensus Rating of "Moderate Buy" from Brokerages

MasTec, Inc. (NYSE:MTZ) has received a "Moderate Buy" consensus rating from 21 brokerages, with an average 1-year price target of $229.44. Recent analyst actions include KeyCorp raising its price target to $246 and Goldman Sachs to $227. Insider trading saw significant stock sales by directors and the COO. Institutional investors own 78.10% of the stock. MasTec's stock opened at $191.81, with a market cap of $15.13 billion and a P/E ratio of 56.75.

Shares of MasTec, Inc. (NYSE:MTZ - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $229.4444.

This infrastructure construction stock: Is it ready to pop?

A number of research analysts have recently issued reports on MTZ shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of MasTec in a research note on Thursday. Wall Street Zen cut MasTec from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 19th. KeyCorp raised their price target on MasTec from $236.00 to $246.00 and gave the stock an "overweight" rating in a research report on Monday, November 3rd. The Goldman Sachs Group boosted their price objective on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Truist Financial increased their price objective on MasTec from $248.00 to $253.00 and gave the company a "buy" rating in a research note on Monday, November 3rd.

Get Our Latest Stock Analysis on MTZ

Insider Buying and Selling at MasTec

Rate cuts could send MasTec stock earnings through the roof

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the firm's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $210.39, for a total value of $420,780.00. Following the sale, the director owned 33,277 shares of the company's stock, valued at $7,001,148.03. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the transaction, the chief operating officer owned 184,249 shares in the company, valued at $36,930,869.56. The trade was a 5.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,929 shares of company stock valued at $3,394,013 in the last quarter. Company insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in shares of MasTec by 4.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company's stock worth $232,000 after buying an additional 51 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in MasTec by 3.1% in the third quarter. Crestwood Advisors Group LLC now owns 1,738 shares of the construction company's stock valued at $370,000 after acquiring an additional 53 shares in the last quarter. Rothschild Investment LLC increased its position in MasTec by 22.5% during the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company's stock valued at $58,000 after purchasing an additional 62 shares during the period. Forum Financial Management LP raised its holdings in MasTec by 3.9% in the 1st quarter. Forum Financial Management LP now owns 2,097 shares of the construction company's stock worth $245,000 after purchasing an additional 78 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company's stock worth $52,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Trading Up 0.9%

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Shares of MTZ opened at $191.81 on Friday. MasTec has a fifty-two week low of $99.70 and a fifty-two week high of $224.03. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 56.75 and a beta of 1.88. The firm has a 50 day moving average price of $202.78 and a 200-day moving average price of $179.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22.

About MasTec

(Get Free Report)

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.

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