MasTec (MTZ) Upgraded to “Buy” at ValuEngine
ValuEngine upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a research report released on Friday morning.
Other analysts have also recently issued research reports about the company. Barclays assumed coverage on MasTec in a research report on Tuesday, December 12th. They issued an overweight rating and a $54.00 target price for the company. Robert W. Baird raised MasTec from a neutral rating to an outperform rating and raised their target price for the stock from $51.00 to $53.00 in a research report on Monday, November 6th. Zacks Investment Research raised MasTec from a hold rating to a buy rating and set a $56.00 target price for the company in a research report on Wednesday, January 3rd. B. Riley reaffirmed a buy rating and issued a $67.00 target price (up previously from $66.00) on shares of MasTec in a research report on Tuesday, November 7th. Finally, Stifel Nicolaus raised their target price on MasTec from $60.00 to $63.00 and gave the stock a buy rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. MasTec presently has an average rating of Buy and a consensus price target of $57.94.
Shares of MasTec (MTZ) opened at $53.35 on Friday. The company has a market capitalization of $4,415.28, a price-to-earnings ratio of 18.27, a PEG ratio of 1.22 and a beta of 1.49. The company has a quick ratio of 1.66, a current ratio of 1.74 and a debt-to-equity ratio of 0.92. MasTec has a 12-month low of $35.75 and a 12-month high of $55.53.
In related news, COO Robert E. Apple sold 25,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $55.07, for a total transaction of $1,376,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.30% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of MasTec by 4.9% during the second quarter. Vanguard Group Inc. now owns 7,219,537 shares of the construction company’s stock worth $325,963,000 after acquiring an additional 335,076 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of MasTec by 27.6% during the third quarter. Advisor Group Inc. now owns 11,543 shares of the construction company’s stock worth $535,000 after acquiring an additional 2,496 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MasTec by 12.6% during the third quarter. Bank of New York Mellon Corp now owns 364,094 shares of the construction company’s stock worth $16,893,000 after acquiring an additional 40,854 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of MasTec by 112.3% during the third quarter. Point72 Asset Management L.P. now owns 690,800 shares of the construction company’s stock worth $32,053,000 after acquiring an additional 365,400 shares in the last quarter. Finally, Strategic Wealth Advisors Group LLC purchased a new stake in shares of MasTec during the third quarter worth $601,000. Institutional investors and hedge funds own 73.38% of the company’s stock.
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MasTec Company Profile
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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