MasTec (NYSE:MTZ) Price Target Raised to $172.00

MasTec (NYSE:MTZ) had its price objective boosted by JPMorgan Chase & Co. from $154.00 to $172.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their price objective 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. Citigroup increased 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. UBS Group lifted their target price on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. B. Riley reissued a “buy” rating and issued a $166.00 price target (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, KeyCorp upped their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.57.

MasTec Price Performance

MTZ stock opened at $147.07 on Tuesday. The firm has a 50-day moving average of $143.11 and a two-hundred day moving average of $127.07. The firm has a market capitalization of $11.65 billion, a PE ratio of 131.31 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a one year low of $65.67 and a one year high of $166.95.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 stock. Kingswood Wealth Advisors LLC boosted its stake in MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares in the last quarter. Atom Investors LP boosted its position in shares of MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after acquiring an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after acquiring an additional 13,241 shares during the period. State Street Corp raised its position in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Finally, Makena Capital Management LLC lifted its stake in MasTec by 41.4% during the third quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock worth $10,728,000 after purchasing an additional 25,532 shares during the period. 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.