UBS Group Raises MasTec (NYSE:MTZ) Price Target to $147.00

MasTec (NYSE:MTZ) had its target price upped by UBS Group from $129.00 to $147.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other equities research analysts have also weighed in on the company. B. Riley lifted their price objective on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup upped their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 target price on the stock. Finally, KeyCorp boosted their price target 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average target price of $134.00.

MasTec Trading Down 0.5 %

NYSE:MTZ opened at $121.95 on Wednesday. The firm has a market capitalization of $9.69 billion, a P/E ratio of -871.07 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $118.00 and a 200 day moving average of $108.48. MasTec has a 52 week low of $44.65 and a 52 week high of $130.22.

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

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 20,000 shares of the 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 sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were 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 in the company, valued at $27,426,096.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is owned by insiders.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Susquehanna Fundamental Investments LLC purchased a new position in shares of MasTec in the first quarter worth $785,000. Swedbank AB purchased a new position in MasTec in the 1st quarter worth about $5,287,000. Interval Partners LP bought a new position in MasTec during the 1st quarter valued at about $4,230,000. Boston Partners bought a new stake in shares of MasTec in the first quarter worth approximately $748,000. Finally, Texas Permanent School Fund Corp grew its stake in shares of MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after acquiring an additional 4,716 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Company Profile

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.