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

B. Riley reaffirmed their buy rating on shares of MasTec (NYSE:MTZ) in a research report sent to investors on Tuesday morning, Benzinga reports. B. Riley currently has a $166.00 price objective on the construction company’s stock, up from their prior price objective of $151.00.

A number of other equities analysts also recently issued reports on MTZ. Stifel Nicolaus increased their price target on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial upgraded shares of MasTec from a “hold” rating to a “buy” rating and boosted their price target for the company from $133.00 to $173.00 in a report on Tuesday. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Citigroup boosted their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $148.62.

MasTec Stock Up 3.0 %

Shares of NYSE:MTZ opened at $136.65 on Tuesday. The business’s 50 day moving average is $120.16 and its 200 day moving average is $110.75. The stock has a market cap of $10.83 billion, a P/E ratio of 122.01 and a beta of 1.70. MasTec has a 52-week low of $46.70 and a 52-week high of $139.39. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 42,823 shares of company stock worth $5,558,301 in the last ninety days. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MasTec

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hobbs Group Advisors LLC acquired a new position in shares of MasTec in the 2nd quarter valued at $27,000. GAMMA Investing LLC grew its stake in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in MasTec during the 2nd quarter valued at about $40,000. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after purchasing an additional 598 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

About MasTec

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.