MasTec (NYSE:MTZ) PT Raised to $147.00

MasTec (NYSE:MTZ) had its price target upped by investment analysts at UBS Group from $129.00 to $147.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s target price indicates a potential upside of 19.97% from the company’s current price.

Several other equities research analysts also recently commented on MTZ. Stifel Nicolaus boosted their price objective on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Truist Financial upped their price objective on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Citigroup raised their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. began coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.00.

MasTec Stock Performance

Shares of MTZ stock opened at $122.53 on Wednesday. The firm has a 50 day moving average of $117.77 and a 200-day moving average of $108.29. The company has a market cap of $9.74 billion, a price-to-earnings ratio of -875.21 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. MasTec has a 52 week low of $44.65 and a 52 week high of $130.22.

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

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction of $2,525,400.00. Following the sale, 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 transaction 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 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 directly owns 216,402 shares in the company, 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 23,800 shares of company stock valued at $2,978,212. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of MasTec in the first quarter worth $785,000. Swedbank AB bought a new position in MasTec in the 1st quarter worth about $5,287,000. Interval Partners LP bought a new position in MasTec in the 1st quarter worth about $4,230,000. Boston Partners purchased a new stake in shares of MasTec in the 1st quarter valued at about $748,000. Finally, Texas Permanent School Fund Corp boosted its position in shares of MasTec by 8.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after acquiring an additional 4,716 shares during the last quarter. Institutional investors 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.