MasTec, Inc. (NYSE:MTZ) Short Interest Up 25.2% in January
by Mitch Edgeman · The Markets DailyMasTec, Inc. (NYSE:MTZ – Get Free Report) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,034,907 shares, an increase of 25.2% from the December 31st total of 2,424,821 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average daily volume of 1,148,984 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 1,148,984 shares, the short-interest ratio is presently 2.6 days. Currently, 4.9% of the shares of the company are short sold.
Institutional Trading of MasTec
Institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC raised its stake in MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MasTec in the 4th quarter valued at approximately $30,000. Caldwell Trust Co bought a new stake in shares of MasTec during the 2nd quarter valued at approximately $29,000. Parkside Financial Bank & Trust increased its position in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after purchasing an additional 137 shares in the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in MasTec in the 3rd quarter valued at approximately $43,000. 78.10% of the stock is currently owned by institutional investors.
MasTec Price Performance
Shares of NYSE MTZ traded up $3.80 during trading hours on Tuesday, hitting $249.20. 1,273,253 shares of the stock were exchanged, compared to its average volume of 834,941. The company’s fifty day simple moving average is $227.41 and its two-hundred day simple moving average is $205.68. The company has a market cap of $19.66 billion, a PE ratio of 59.19 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. MasTec has a 1-year low of $99.70 and a 1-year high of $252.00.
Wall Street Analyst Weigh In
Several research analysts have weighed in on MTZ shares. Barclays increased their price objective on MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. raised their price target on shares of MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. KeyCorp reissued an “overweight” rating and issued a $264.00 price objective on shares of MasTec in a report on Wednesday, January 7th. Wall Street Zen upgraded shares of MasTec from a “hold” rating to a “buy” rating in a research report on Sunday, January 25th. Finally, Robert W. Baird lifted their price target on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Two 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $238.16.
Read Our Latest Analysis on MTZ
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.