MasTec (NYSE:MTZ) Price Target Raised to $153.00

MasTec (NYSE:MTZ) had its target price upped by Robert W. Baird from $120.00 to $153.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s target price indicates a potential upside of 11.96% from the company’s previous close.

A number of other analysts have also weighed in on the stock. KeyCorp increased their target price on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Citigroup lifted their price objective on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upped their target price on MasTec from $121.00 to $150.00 and gave the company 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, DA Davidson upped their price objective on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Trading Up 3.0 %

Shares of MTZ opened at $136.65 on Monday. The stock has a market capitalization of $10.83 billion, a P/E ratio of 122.01 and a beta of 1.70. MasTec has a twelve month low of $46.70 and a twelve month high of $139.39. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $120.16 and a two-hundred day simple moving average of $110.75.

Insider Activity at MasTec

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 stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The trade was 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 link. In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were 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 document filed with the SEC, which is available at 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 transaction of $104,032.00. Following the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock valued at $5,558,301 in the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Hobbs Group Advisors LLC purchased a new position in shares of MasTec in the second quarter worth $27,000. GAMMA Investing LLC raised its position in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after buying an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in MasTec during the 2nd quarter valued at about $40,000. UMB Bank n.a. boosted its holdings 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 valued at $47,000 after acquiring an additional 120 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of MasTec by 5,436.4% in the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after acquiring an additional 598 shares during the period. 78.10% of the stock is owned by 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.