MasTec (NYSE:MTZ) Price Target Raised to $155.00

MasTec (NYSE:MTZFree Report) had its target price raised by Stifel Nicolaus from $153.00 to $155.00 in a report published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

A number of other brokerages have also weighed in on MTZ. UBS Group upped their target price on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. B. Riley restated a “buy” rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Truist Financial raised shares of MasTec from a “hold” rating to a “buy” rating and increased their price target for the stock from $133.00 to $173.00 in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $149.00.

View Our Latest Report on MTZ

MasTec Trading Up 0.3 %

MasTec stock opened at $137.78 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a fifty-two week low of $60.96 and a fifty-two week high of $150.12. The stock has a market cap of $10.92 billion, a P/E ratio of 123.02 and a beta of 1.72. The firm’s fifty day moving average price is $134.53 and its 200-day moving average price is $118.44.

Insider Activity

In other MasTec 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 completion of the transaction, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 in the company, valued at approximately $27,426,096.54. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,823 shares of company stock valued at $7,493,301. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Large investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in shares of MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after purchasing an additional 1,356,634 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in MasTec in the second quarter worth about $79,494,000. Hood River Capital Management LLC lifted 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 worth $127,773,000 after buying an additional 446,762 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of MasTec by 266.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after buying an additional 289,090 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Company Profile

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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.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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