MasTec (NYSE:MTZ) Price Target Raised to $150.00 at Citigroup

MasTec (NYSE:MTZ) had its price target boosted by Citigroup from $122.00 to $150.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other analysts also recently issued reports on MTZ. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Truist Financial lifted their price target on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. DA Davidson upped their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. started coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

MasTec Stock Performance

NYSE:MTZ opened at $122.53 on Tuesday. The firm’s fifty day simple moving average is $117.77 and its 200 day simple moving average is $108.29. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. MasTec has a twelve month low of $44.65 and a twelve month high of $130.22. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of -875.21 and a beta of 1.70.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that MasTec will post 2.69 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was 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 in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,800 shares of company stock worth $2,978,212. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of MasTec in the 1st quarter worth approximately $785,000. Swedbank AB bought a new stake in MasTec in the first quarter valued at $5,287,000. Interval Partners LP acquired a new position in shares of MasTec during the first quarter valued at $4,230,000. Boston Partners bought a new position in shares of MasTec during the first quarter worth about $748,000. Finally, Texas Permanent School Fund Corp increased its holdings in shares of MasTec by 8.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after acquiring an additional 4,716 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.