Brokerages Set MasTec, Inc. (NYSE:MTZ) Target Price at $155.07

Shares of MasTec, Inc. (NYSE:MTZ) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $155.07.

MTZ has been the topic of several recent research reports. Citigroup increased their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group increased their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. started coverage on MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Finally, Robert W. Baird raised their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th.

MasTec Trading Up 3.8 %

Shares of NYSE MTZ opened at $160.84 on Friday. MasTec has a twelve month low of $60.96 and a twelve month high of $161.05. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $142.01 and a two-hundred day simple moving average of $125.25. The firm has a market cap of $12.74 billion, a PE ratio of 143.61 and a beta of 1.74.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on 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 directly owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently made changes to their positions in the stock. Atom Investors LP boosted its holdings in 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 during the period. State Street Corp boosted its stake in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares during the period. Makena Capital Management LLC grew its holdings in shares of MasTec by 41.4% in the third quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock valued at $10,728,000 after purchasing an additional 25,532 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in MasTec during the 3rd quarter worth approximately $1,470,000. Finally, Charles Schwab Investment Management Inc. increased its stake in MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after buying an additional 7,469 shares during the period. 78.10% of the stock is currently 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.