B. Riley Reiterates Buy Rating for MasTec (NYSE:MTZ)

by · The Cerbat Gem

MasTec (NYSE:MTZ – Get Free Report)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $166.00 target price on the construction company’s stock, up from their previous target price of $151.00. B. Riley’s price objective suggests a potential upside of 21.79% from the stock’s current price.

A number of other research analysts also recently weighed in on MTZ. Robert W. Baird upped their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday. Stifel Nicolaus upped their price target on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, DA Davidson lifted their price target on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $148.62.

Get Our Latest Research Report on MTZ

MasTec Trading Up 2.8 %

NYSE MTZ traded up $3.69 during trading on Tuesday, hitting $136.30. The company had a trading volume of 214,340 shares, compared to its average volume of 849,964. The company’s fifty day moving average is $119.64 and its 200-day moving average is $110.38. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 121.70 and a beta of 1.70. 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 one year low of $46.70 and a one year high of $139.39.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was 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 $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,800 shares of company stock valued at $2,978,212 over the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after purchasing an additional 1,356,634 shares during the period. D1 Capital Partners L.P. purchased a new stake in MasTec during the second quarter valued at approximately $79,494,000. Hood River Capital Management LLC raised its position in MasTec by 59.8% in the second 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 period. AQR Capital Management LLC boosted its stake in shares of MasTec by 3,439.7% during the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after acquiring an additional 255,088 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of MasTec by 205.4% during the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after acquiring an additional 190,320 shares during the period. 78.10% of the stock is owned by institutional investors.

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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