MasTec (NYSE:MTZ) Price Target Raised to $267.00 at Stifel Nicolaus

MasTec (NYSE:MTZ) had its price target hoisted by research analysts at Stifel Nicolaus from $240.00 to $267.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 23.09% from the stock’s previous close.

MTZ has been the topic of a number of other reports. UBS Group increased their price objective on shares of MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Roth Capital upped their target price on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Robert W. Baird increased their target price on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Citigroup boosted their price target on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Finally, Truist Financial upped their price objective on MasTec from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.11.

MasTec Stock Down 1.6%

Shares of MTZ stock traded down $3.46 during trading hours on Tuesday, reaching $216.92. 239,565 shares of the stock were exchanged, compared to its average volume of 998,402. The business’s fifty day moving average is $207.22 and its two-hundred day moving average is $189.42. The firm has a market capitalization of $17.11 billion, a P/E ratio of 51.61 and a beta of 1.94. MasTec has a 12-month low of $99.70 and a 12-month high of $233.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the sale, the chief operating officer directly owned 184,249 shares in the company, valued at $36,930,869.56. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares in the company, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,929 shares of company stock valued at $2,822,843. 21.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MasTec

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in MasTec in the fourth quarter valued at $227,000. Nuveen LLC acquired a new position in shares of MasTec during the 1st quarter worth $21,208,000. Dimensional Fund Advisors LP boosted its position in shares of MasTec by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company’s stock worth $142,331,000 after buying an additional 39,622 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in MasTec by 6.0% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 23,540 shares of the construction company’s stock valued at $2,747,000 after acquiring an additional 1,323 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in MasTec by 31.8% in the 1st quarter. Raymond James Financial Inc. now owns 172,099 shares of the construction company’s stock valued at $20,085,000 after acquiring an additional 41,526 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

About MasTec

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.