Craig Hallum Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

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

Several other equities analysts also recently commented on the stock. Truist Financial boosted their price target on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. UBS Group upped their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson upped their target price on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Citigroup lifted their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $146.15.

MasTec Stock Up 3.9 %

Shares of MTZ traded up $5.17 during mid-day trading on Monday, hitting $137.78. 130,993 shares of the company’s stock were exchanged, compared to its average volume of 849,445. The stock’s 50-day moving average is $119.64 and its 200-day moving average is $110.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a fifty-two week low of $46.70 and a fifty-two week high of $139.39. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 122.32 and a beta of 1.70.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at $27,426,096.54. 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 the business’s stock in a transaction on 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 transaction, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,800 shares of company stock worth $2,978,212 in the last quarter. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

A number of institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System grew its stake in MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after acquiring an additional 100 shares during the period. UMB Bank n.a. grew its position in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the period. Blue Trust Inc. increased its stake in MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after purchasing an additional 138 shares during the last quarter. GAMMA Investing LLC increased its stake in MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. Finally, Second Line Capital LLC lifted its position in MasTec by 0.8% during the first quarter. Second Line Capital LLC now owns 30,026 shares of the construction company’s stock worth $2,800,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds 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.