The Goldman Sachs Group Boosts MasTec (NYSE:MTZ) Price Target to $130.00

MasTec (NYSE:MTZ) had its price target raised by stock analysts at The Goldman Sachs Group from $115.00 to $130.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 1.59% from the company’s current price.

MTZ has been the subject of a number of other research reports. B. Riley increased their target price on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Truist Financial reaffirmed a “hold” rating and set a $112.00 price target (up previously from $109.00) on shares of MasTec in a research note on Monday, August 5th. DA Davidson boosted their price objective on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. assumed coverage on MasTec in a research note on Monday. They set an “overweight” rating and a $153.00 target price for the company. Finally, KeyCorp lifted their target price on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.77.

MasTec Trading Down 0.4 %

NYSE MTZ traded down $0.46 during mid-day trading on Wednesday, hitting $127.97. The company’s stock had a trading volume of 43,923 shares, compared to its average volume of 855,353. The firm has a market capitalization of $10.17 billion, a P/E ratio of -914.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. MasTec has a 52-week low of $44.65 and a 52-week high of $130.22. The stock’s fifty day simple moving average is $113.10 and its two-hundred day simple moving average is $105.71.

MasTec (NYSE:MTZ) last posted its earnings results 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. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that MasTec will post 2.71 EPS for the current year.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the firm’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 transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert E. Apple sold 20,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several large investors have recently added to or reduced their stakes in MTZ. Electron Capital Partners LLC increased its holdings in shares of MasTec by 16.1% in the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after acquiring an additional 238,874 shares during the period. Pacer Advisors Inc. increased its stake in shares of MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after purchasing an additional 1,356,634 shares during the period. Hood River Capital Management LLC increased its stake in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in shares of MasTec during the second quarter worth approximately $79,494,000. 78.10% of the stock is owned by institutional investors and hedge funds.

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.