Truist Financial Upgrades MasTec (NYSE:MTZ) to “Buy”

MasTec (NYSE:MTZ) was upgraded by analysts at Truist Financial from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat reports. The firm presently has a $173.00 price objective on the construction company’s stock, up from their previous price objective of $133.00. Truist Financial’s price target would suggest a potential upside of 30.46% from the stock’s current price.

A number of other brokerages have also weighed in on MTZ. Citigroup boosted their target price on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday. TD Cowen increased their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday. KeyCorp upped 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. Finally, B. Riley increased their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.15.

MasTec Stock Up 2.0 %

MTZ stock opened at $132.61 on Tuesday. The business has a 50 day moving average of $119.64 and a 200 day moving average of $110.38. The firm has a market cap of $10.51 billion, a PE ratio of 118.40 and a beta of 1.70. MasTec has a twelve month low of $46.70 and a twelve month high of $138.87. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Activity

In related 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 transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Robert E. Apple sold 800 shares of the company’s 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 sale, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, 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 Investors Weigh In On MasTec

Hedge funds have recently made changes to their positions in the business. Lisanti Capital Growth LLC lifted its position in shares of MasTec by 31.4% during the 3rd quarter. Lisanti Capital Growth LLC now owns 43,090 shares of the construction company’s stock valued at $5,304,000 after acquiring an additional 10,305 shares during the period. Los Angeles Capital Management LLC acquired a new stake in MasTec in the third quarter valued at $3,195,000. Crossmark Global Holdings Inc. boosted its holdings in shares of MasTec by 216.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 11,673 shares of the construction company’s stock valued at $1,437,000 after buying an additional 7,984 shares during the period. Atria Investments Inc acquired a new stake in shares of MasTec in the third quarter valued at approximately $302,000. Finally, Verdence Capital Advisors LLC acquired a new stake in MasTec in the third quarter worth approximately $203,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.