MasTec (NYSE:MTZ) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of MasTec (NYSE:MTZ) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued an overweight rating and a $274.00 price objective on the construction company’s stock.

MTZ has been the subject of several other reports. Robert W. Baird increased their price objective on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Zacks Research raised MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. raised their price objective on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Citigroup lifted their price objective on shares of MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, KeyCorp reiterated an “overweight” rating and issued a $264.00 target price on shares of MasTec in a report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $236.26.

MasTec Stock Performance

MTZ opened at $241.59 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. MasTec has a 1-year low of $99.70 and a 1-year high of $249.21. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 57.38 and a beta of 1.91. The company’s fifty day moving average price is $220.66 and its two-hundred day moving average price is $202.12.

Insider Buying and Selling at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer owned 9,757 shares in the company, valued at $2,011,405.55. This trade represents a 16.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of large investors have recently made changes to their positions in MTZ. Victory Capital Management Inc. boosted its position in shares of MasTec by 9,550.8% in the third quarter. Victory Capital Management Inc. now owns 946,555 shares of the construction company’s stock valued at $201,295,000 after acquiring an additional 936,747 shares during the period. Qube Research & Technologies Ltd grew 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 in the last quarter. 140 Summer Partners LP bought a new position in shares of MasTec in the third quarter worth approximately $81,514,000. First Trust Advisors LP increased its holdings in shares of MasTec by 52.1% in the 3rd quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock worth $217,529,000 after buying an additional 350,228 shares during the last quarter. Finally, Merewether Investment Management LP raised its position in MasTec by 59.8% during the third quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company’s stock valued at $184,557,000 after purchasing an additional 324,500 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Company Profile

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.