MasTec (NYSE:MTZ) Shares Gap Up Following Analyst Upgrade

MasTec, Inc. (NYSE:MTZ) gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $154.00 to $172.00. The stock had previously closed at $130.84, but opened at $136.22. JPMorgan Chase & Co. currently has an overweight rating on the stock. MasTec shares last traded at $135.09, with a volume of 113,220 shares trading hands.

Several other equities research analysts have also recently commented on MTZ. KeyCorp boosted their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. B. Riley reiterated a “buy” rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. TD Cowen raised their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Citigroup boosted their price target on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.57.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s 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. This trade represents a 6.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 187,202 shares in the company, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,023 shares of company stock worth $4,515,089. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently modified their holdings of the company. Entropy Technologies LP acquired a new position in MasTec during the fourth quarter worth $1,301,000. BayBridge Capital Group LLC bought a new stake in MasTec during the 4th quarter worth about $423,000. Lecap Asset Management Ltd. boosted its stake in shares of MasTec by 126.1% during the 4th quarter. Lecap Asset Management Ltd. now owns 16,546 shares of the construction company’s stock worth $2,253,000 after buying an additional 9,228 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new position in shares of MasTec in the 4th quarter valued at about $25,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of MasTec in the fourth quarter valued at about $1,480,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Up 3.1 %

The firm has a fifty day moving average of $143.03 and a 200-day moving average of $126.84. 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 firm has a market cap of $10.69 billion, a P/E ratio of 120.41 and a beta of 1.74.

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.