MasTec (NYSE:MTZ) Given New $147.00 Price Target at UBS Group

MasTec (NYSE:MTZ) had its target price increased by UBS Group from $129.00 to $147.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other equities analysts have also commented on the company. Stifel Nicolaus upped their target price on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. initiated coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Truist Financial raised their target price on MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. DA Davidson upped their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, KeyCorp lifted their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.00.

MasTec Price Performance

Shares of NYSE MTZ opened at $122.32 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of -873.71 and a beta of 1.70. MasTec has a twelve month low of $44.65 and a twelve month high of $130.22. The business has a 50 day simple moving average of $117.54 and a 200-day simple moving average of $108.19.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that MasTec will post 2.69 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,800 shares of company stock worth $2,978,212 in the last ninety days. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MTZ. Hobbs Group Advisors LLC purchased a new stake in shares of MasTec in the 2nd quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale acquired a new stake in MasTec during the 2nd quarter valued at $40,000. GAMMA Investing LLC lifted its holdings in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. UMB Bank n.a. boosted its position 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 worth $47,000 after buying an additional 120 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.