MasTec (NYSE:MTZ) PT Raised to $147.00

MasTec (NYSE:MTZ) had its price target boosted by UBS Group from $129.00 to $147.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently commented on the company. DA Davidson raised their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. started coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Truist Financial lifted their price target on shares of MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup upped their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $134.00.

MasTec Trading Down 0.5 %

MasTec stock opened at $121.95 on Wednesday. MasTec has a 52-week low of $44.65 and a 52-week high of $130.22. The company has a market cap of $9.69 billion, a P/E ratio of -871.07 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $118.00 and a two-hundred day simple moving average of $108.48.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that MasTec will post 2.69 EPS for the current year.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 in the company, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was 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 directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the chief operating officer now owns 217,202 shares in the company, valued at $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 three months, insiders have sold 23,800 shares of company stock worth $2,978,212. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after acquiring an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of 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 worth $127,773,000 after purchasing an additional 446,762 shares during the period. D1 Capital Partners L.P. purchased a new stake in MasTec during the 2nd quarter valued at $79,494,000. Marshall Wace LLP lifted its position in MasTec by 4.3% in the second quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock worth $76,828,000 after buying an additional 29,631 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in MasTec by 6.3% during the third quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock worth $65,414,000 after buying an additional 31,266 shares during the period. 78.10% of the stock is currently 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.