MasTec (NYSE:MTZ) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

MasTec (NYSE:MTZ) had its price target upped by analysts at Stifel Nicolaus from $155.00 to $185.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 14.50% from the company’s current price.

A number of other analysts have also recently commented on MTZ. UBS Group lifted their target price on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp increased their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. started coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective on the stock. Guggenheim initiated coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. Finally, TD Cowen upped their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.21.

MasTec Stock Up 0.5 %

Shares of MTZ stock traded up $0.78 on Wednesday, reaching $161.57. 376,293 shares of the stock were exchanged, compared to its average volume of 833,846. MasTec has a twelve month low of $60.96 and a twelve month high of $166.95. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 144.16 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average price is $142.01 and its 200 day moving average price is $125.25.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. This represents a 6.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,023 shares of company stock valued at $4,515,089. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its holdings in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after purchasing an additional 895,227 shares during the period. State Street Corp grew its stake in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares during the period. Geode Capital Management LLC grew its stake in shares of MasTec by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after acquiring an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. grew its stake in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in MasTec by 4.3% during the 2nd 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 last quarter. 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.