UBS Group Boosts MasTec (NYSE:MTZ) Price Target to $147.00

MasTec (NYSE:MTZ) had its target price boosted by UBS Group from $129.00 to $147.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup lifted their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their price target on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. DA Davidson lifted their price objective on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, MasTec has an average rating of “Moderate Buy” and an average price target of $134.00.

MasTec Price Performance

MTZ stock opened at $121.95 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. MasTec has a 12 month low of $44.65 and a 12 month high of $130.22. The stock has a market cap of $9.69 billion, a PE ratio of -871.07 and a beta of 1.70. The company has a 50-day moving average price of $118.00 and a 200 day moving average price of $108.59.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that MasTec will post 2.69 earnings per share for the current year.

Insider Activity

In related news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other MasTec news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,800 shares of company stock worth $2,978,212. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in 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 buying an additional 1,356,634 shares during the last quarter. 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 worth $127,773,000 after acquiring an additional 446,762 shares during the period. D1 Capital Partners L.P. purchased a new position in shares of MasTec during the second quarter worth $79,494,000. Marshall Wace LLP lifted its position in MasTec by 4.3% during the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after purchasing an additional 29,631 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in MasTec by 6.3% in the third quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock valued at $65,414,000 after purchasing an additional 31,266 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.