MasTec (NYSE:MTZ) Upgraded at Truist Financial

MasTec (NYSE:MTZ) was upgraded by research analysts at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $173.00 target price on the construction company’s stock, up from their previous target price of $133.00. Truist Financial’s price objective indicates a potential upside of 30.46% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. 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 research note on Monday, August 5th. Craig Hallum upped their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. KeyCorp increased their target price on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Robert W. Baird boosted their price target on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.15.

MasTec Trading Up 2.0 %

MasTec stock opened at $132.61 on Tuesday. The business has a 50 day moving average price of $119.64 and a two-hundred day moving average price of $110.38. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a 12 month low of $46.70 and a 12 month high of $138.87. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 118.40 and a beta of 1.70.

Insider Buying and Selling

In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,800 shares of company stock valued at $2,978,212. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of MasTec during the first quarter valued at approximately $785,000. Swedbank AB purchased a new stake in shares of MasTec in the 1st quarter worth about $5,287,000. Interval Partners LP bought a new stake in shares of MasTec during the 1st quarter valued at about $4,230,000. Boston Partners purchased a new position in shares of MasTec during the first quarter valued at about $748,000. Finally, Texas Permanent School Fund Corp lifted its holdings in MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after buying an additional 4,716 shares during the period. Institutional investors own 78.10% of the company’s stock.

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.