MasTec (NYSE:MTZ) Research Coverage Started at JPMorgan Chase & Co.

by · The Cerbat Gem

JPMorgan Chase & Co. started coverage on shares of MasTec (NYSE:MTZ – Free Report) in a research report released on Monday, MarketBeat Ratings reports. The firm issued an overweight rating and a $153.00 price target on the construction company’s stock.

Other research analysts have also issued reports about the stock. Citigroup increased their target price on shares of MasTec from $118.00 to $122.00 and gave the stock a buy rating in a research note on Monday, July 22nd. DA Davidson raised their target price on MasTec from $120.00 to $125.00 and gave the company a buy rating in a research note on Monday, August 5th. Truist Financial reaffirmed a hold rating and issued a $112.00 target price (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. B. Riley increased their price target on MasTec from $132.00 to $134.00 and gave the stock a buy rating in a report on Monday, August 5th. Finally, Stifel Nicolaus boosted their price objective on MasTec from $120.00 to $121.00 and gave the company a buy rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $125.38.

View Our Latest Report on MasTec

MasTec Stock Performance

Shares of MTZ opened at $127.76 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The firm’s fifty day simple moving average is $113.45 and its two-hundred day simple moving average is $105.86. MasTec has a 12 month low of $44.65 and a 12 month high of $130.22. The stock has a market capitalization of $10.15 billion, a P/E ratio of -912.57 and a beta of 1.70.

MasTec (NYSE:MTZ – Get Free Report) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, analysts predict that MasTec will post 2.71 EPS for the current year.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 800 shares of the company’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 value of $104,032.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,800 shares of company stock valued at $2,978,212 in the last three months. 21.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MasTec

Large investors have recently made changes to their positions in the business. Hobbs Group Advisors LLC bought a new position in MasTec during the second quarter valued at about $27,000. Quarry LP bought a new stake in MasTec in the fourth quarter worth about $37,000. GAMMA Investing LLC boosted 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 acquiring an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec during the 2nd quarter valued at approximately $40,000. Finally, UMB Bank n.a. increased its stake in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

About MasTec

(Get Free Report)

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.

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