MasTec (NYSE:MTZ) PT Raised to $150.00

MasTec (NYSE:MTZ) had its target price increased by Citigroup from $122.00 to $150.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s target price indicates a potential upside of 18.84% from the stock’s current price.

Several other analysts have also weighed in on MTZ. KeyCorp increased their price target on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Truist Financial raised their target price on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped 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. DA Davidson raised their price objective on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, B. Riley upped their target price on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.77.

MasTec Price Performance

MTZ stock traded down $1.98 during trading on Tuesday, hitting $126.22. 135,077 shares of the company’s stock traded hands, compared to its average volume of 845,682. MasTec has a 52 week low of $44.65 and a 52 week high of $130.22. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of -903.21 and a beta of 1.70. The business has a fifty day simple moving average of $116.94 and a 200 day simple moving average of $107.86. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ) last announced its quarterly 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 net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that MasTec will post 2.69 EPS for the current fiscal year.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director C Robert Campbell sold 3,000 shares of the business’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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,800 shares of company stock worth $2,978,212. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several hedge funds have recently modified their holdings of MTZ. Hobbs Group Advisors LLC bought a new position in shares of MasTec during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC increased its position in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of MasTec during the 2nd quarter valued at $40,000. UMB Bank n.a. boosted its position in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after buying an additional 598 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.