MasTec (NYSE:MTZ) Price Target Raised to $189.00

MasTec (NYSE:MTZ) had its price target raised by analysts at Truist Financial from $173.00 to $189.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective would indicate a potential upside of 43.60% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. TD Cowen upped their price objective on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. KeyCorp upped their target price on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Robert W. Baird increased their price target on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Citigroup boosted 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. Finally, UBS Group raised their target price on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.23.

MasTec Stock Up 0.7 %

MTZ traded up $0.91 during mid-day trading on Thursday, reaching $131.62. 93,435 shares of the stock were exchanged, compared to its average volume of 851,578. The company has a 50 day moving average price of $134.95 and a two-hundred day moving average price of $119.01. The stock has a market capitalization of $10.43 billion, a PE ratio of 117.52 and a beta of 1.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a 1 year low of $60.96 and a 1 year high of $150.12.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,823 shares of company stock valued at $7,144,521. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec in the 3rd quarter valued at about $25,000. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec in the second quarter worth approximately $40,000. UMB Bank n.a. raised its stake in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. True Wealth Design LLC bought a new stake in MasTec during the third quarter valued at approximately $57,000. Finally, Blue Trust Inc. grew its stake in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after buying an additional 138 shares in the last quarter. Hedge funds and other 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.