MasTec (NYSE:MTZ) PT Raised to $145.00

by · The Cerbat Gem

MasTec (NYSE:MTZ – Free Report) had its price objective hoisted by KeyCorp from $123.00 to $145.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other research analysts have also issued reports on the company. B. Riley boosted their target price on MasTec from $132.00 to $134.00 and gave the company a buy rating in a report on Monday, August 5th. Truist Financial restated a hold rating and set a $112.00 price objective (up previously from $109.00) on shares of MasTec in a research report on Monday, August 5th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a report on Monday, October 7th. They issued an overweight rating and a $153.00 target price on the stock. Stifel Nicolaus increased their price target on shares of MasTec from $120.00 to $121.00 and gave the stock a buy rating in a report on Monday, August 5th. Finally, Citigroup lifted their price objective on MasTec from $118.00 to $122.00 and gave the company a buy rating in a report on Monday, July 22nd. Three investment 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 an average rating of Moderate Buy and an average price target of $127.62.

Check Out Our Latest Research Report on MasTec

MasTec Trading Up 0.5 %

NYSE:MTZ opened at $127.40 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. MasTec has a 52-week low of $44.65 and a 52-week high of $130.22. The stock’s 50 day moving average price is $114.37 and its 200 day moving average price is $106.25. The company has a market capitalization of $10.09 billion, a PE ratio of 1,415.56 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 analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. On average, research analysts anticipate that MasTec will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the firm’s 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 transaction, the chief operating officer now directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is owned by corporate insiders.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently made changes to their positions in MTZ. Pacer Advisors Inc. raised its stake in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after purchasing an additional 1,356,634 shares during the last quarter. D1 Capital Partners L.P. acquired a new position in shares of MasTec in the second quarter valued at approximately $79,494,000. Point72 Asset Management L.P. lifted its stake in shares of MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares during the period. Hood River Capital Management LLC boosted its position in MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after acquiring an additional 446,762 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock worth $78,890,000 after acquiring an additional 312,991 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Company Profile

(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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