MasTec (NYSE:MTZ) Price Target Raised to $160.00

MasTec (NYSE:MTZ) had its price objective lifted by TD Cowen from $115.00 to $160.00 in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the construction company’s stock.

MTZ has been the subject of a number of other reports. Citigroup upped their price objective on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective on shares of MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their target price on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Finally, DA Davidson lifted their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.62.

MasTec Stock Performance

Shares of MTZ stock opened at $140.63 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average of $120.78 and a two-hundred day moving average of $110.95. The company has a market cap of $11.14 billion, a P/E ratio of 125.56 and a beta of 1.70. MasTec has a 52 week low of $46.70 and a 52 week high of $140.98.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,823 shares of company stock worth $5,558,301. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several hedge funds have recently bought and sold shares of MTZ. CIBC Asset Management Inc increased its holdings in shares of MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after purchasing an additional 82 shares during the period. New York State Teachers Retirement System increased its position in MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after buying an additional 100 shares during the last quarter. Victory Capital Management Inc. raised its holdings in MasTec by 0.8% during the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after buying an additional 101 shares in the last quarter. UMB Bank n.a. lifted 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 last quarter. Finally, Blue Trust Inc. boosted its stake in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after acquiring an additional 138 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other 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.