MasTec (NYSE:MTZ) Price Target Raised to $150.00

MasTec (NYSE:MTZ) had its price target boosted by Craig Hallum from $125.00 to $150.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently issued reports on MTZ. The Goldman Sachs Group increased their price objective 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. JPMorgan Chase & Co. began coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. KeyCorp raised their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Robert W. Baird raised their price target on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday. Finally, UBS Group raised their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Price Performance

MTZ stock opened at $140.63 on Monday. The stock has a market capitalization of $11.14 billion, a PE ratio of 125.56 and a beta of 1.70. The company’s 50-day moving average is $120.78 and its 200-day moving average is $110.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec has a 1 year low of $46.70 and a 1 year high of $140.98.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Robert E. Apple sold 800 shares of the firm’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 completion of the sale, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock worth $5,558,301 in the last quarter. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. grew its stake in MasTec by 15,067.0% in the 2nd 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 in the last quarter. Hood River Capital Management LLC grew its stake in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after buying an additional 446,762 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in MasTec in the 2nd quarter valued at approximately $79,494,000. Marshall Wace LLP grew its stake in MasTec by 4.3% in the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after buying an additional 29,631 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in MasTec by 6.3% in the 3rd 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 period. 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.