MasTec (NYSE:MTZ) Price Target Raised to $150.00

MasTec (NYSE:MTZ) had its price target boosted by Citigroup from $122.00 to $150.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial boosted their price target on MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. KeyCorp lifted their price objective on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. began coverage on MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. DA Davidson lifted their price target on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group increased their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.00.

MasTec Stock Up 0.2 %

MTZ opened at $122.53 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. MasTec has a 12 month low of $44.65 and a 12 month high of $130.22. The stock has a market capitalization of $9.74 billion, a P/E ratio of -875.21 and a beta of 1.70. The business has a 50 day simple moving average of $117.77 and a 200-day simple moving average of $108.29.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that MasTec will post 2.69 earnings per share for the current fiscal year.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This trade 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 through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The shares were 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 of the company’s stock, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,800 shares of company stock valued at $2,978,212. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MTZ. Hobbs Group Advisors LLC acquired a new position in MasTec during the second quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after buying an additional 144 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec in the 2nd quarter worth $40,000. UMB Bank n.a. boosted its holdings in 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 acquiring an additional 120 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after acquiring an additional 598 shares during the period. 78.10% of the stock is currently 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.