MasTec (NYSE:MTZ) Price Target Raised to $189.00

MasTec (NYSE:MTZ) had its price objective increased by Truist Financial from $173.00 to $189.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group upped their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Stifel Nicolaus upped their price objective on MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group lifted their target price on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $150.23.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $136.56 on Thursday. 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 12 month low of $60.96 and a 12 month high of $150.12. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 121.93 and a beta of 1.72. The firm’s 50-day moving average is $135.24 and its 200 day moving average is $119.35.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the transaction, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the sale, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,823 shares of company stock worth $4,619,121 over the last 90 days. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of MasTec during the 2nd quarter valued at $288,000. Blue Trust Inc. raised its stake in MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 shares during the last quarter. Raymond James & Associates boosted its holdings in MasTec by 43.4% in the second quarter. Raymond James & Associates now owns 48,230 shares of the construction company’s stock worth $5,160,000 after acquiring an additional 14,608 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of MasTec during the second quarter worth about $215,000. Finally, Tributary Capital Management LLC increased its holdings in shares of MasTec by 88.5% during the second quarter. Tributary Capital Management LLC now owns 7,670 shares of the construction company’s stock valued at $821,000 after acquiring an additional 3,600 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.