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

MasTec (NYSE:MTZ) had its price objective increased by research analysts at Craig Hallum from $125.00 to $150.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Craig Hallum’s price target points to a potential upside of 9.77% from the company’s previous close.

Several other research firms have also recently weighed in on MTZ. TD Cowen boosted their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus increased their price target on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Citigroup lifted their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. UBS Group increased their target price 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. Finally, DA Davidson lifted their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $148.62.

MasTec Price Performance

MasTec stock opened at $136.65 on Monday. MasTec has a 52 week low of $46.70 and a 52 week high of $139.39. The company’s 50 day moving average price is $120.16 and its two-hundred day moving average price is $110.75. The stock has a market cap of $10.83 billion, a P/E ratio of 122.01 and a beta of 1.70. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in MasTec during the first quarter worth about $785,000. Swedbank AB bought a new position in shares of MasTec in the first quarter worth approximately $5,287,000. Interval Partners LP bought a new position in shares of MasTec in the first quarter worth approximately $4,230,000. Boston Partners purchased a new stake in MasTec in the first quarter valued at approximately $748,000. Finally, Texas Permanent School Fund Corp lifted its position in MasTec by 8.9% during the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after purchasing an additional 4,716 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

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.