MasTec, Inc. (NYSE:MTZ) Short Interest Up 25.2% in January

MasTec, Inc. (NYSE:MTZ) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 3,034,907 shares, a growth of 25.2% from the December 31st total of 2,424,821 shares. Based on an average daily trading volume, of 1,148,984 shares, the days-to-cover ratio is currently 2.6 days. Currently, 4.9% of the company’s shares are sold short. Currently, 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,148,984 shares, the days-to-cover ratio is currently 2.6 days.

MasTec Stock Up 1.5%

Shares of MasTec stock traded up $3.80 during trading hours on Tuesday, hitting $249.20. The company had a trading volume of 1,273,253 shares, compared to its average volume of 834,941. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The company’s 50-day moving average is $227.41 and its two-hundred day moving average is $205.68. The company has a market cap of $19.66 billion, a P/E ratio of 59.19 and a beta of 1.94. MasTec has a twelve month low of $99.70 and a twelve month high of $252.00.

Hedge Funds Weigh In On MasTec

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of MasTec by 9,550.8% in the 3rd quarter. Victory Capital Management Inc. now owns 946,555 shares of the construction company’s stock valued at $201,295,000 after purchasing an additional 936,747 shares during the last quarter. Qube Research & Technologies Ltd increased its position in MasTec by 370.0% during the second quarter. Qube Research & Technologies Ltd now owns 506,857 shares of the construction company’s stock worth $86,384,000 after buying an additional 399,007 shares during the period. 140 Summer Partners LP purchased a new stake in MasTec in the third quarter valued at approximately $81,514,000. First Trust Advisors LP lifted its stake in MasTec by 52.1% in the third quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock valued at $217,529,000 after buying an additional 350,228 shares during the last quarter. Finally, Merewether Investment Management LP boosted its holdings in shares of MasTec by 59.8% in the third quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company’s stock valued at $184,557,000 after acquiring an additional 324,500 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded MasTec from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Stifel Nicolaus lifted their price objective on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Zacks Research upgraded shares of MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Guggenheim reiterated a “neutral” rating and set a $215.00 price target on shares of MasTec in a report on Wednesday, October 15th. Finally, Mizuho set a $254.00 target price on shares of MasTec in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $238.16.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.