MasTec (NYSE:MTZ) Given New $172.00 Price Target at JPMorgan Chase & Co.

MasTec (NYSE:MTZ) had its price objective hoisted by JPMorgan Chase & Co. from $154.00 to $172.00 in a research report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

Several other analysts have also recently commented on the company. Guggenheim initiated coverage on MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. Craig Hallum raised their price target on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird upped their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. B. Riley reissued a “buy” rating and set a $166.00 target price (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Finally, Truist Financial boosted their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.57.

MasTec Price Performance

NYSE MTZ opened at $134.86 on Tuesday. The company has a 50-day moving average price of $143.03 and a two-hundred day moving average price of $126.84. MasTec has a 52 week low of $64.39 and a 52 week high of $166.95. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 120.41 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,023 shares of company stock worth $4,515,089. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Hedge funds have recently modified their holdings of the stock. Kingswood Wealth Advisors LLC grew its stake in MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock valued at $3,880,000 after purchasing an additional 8,948 shares in the last quarter. Atom Investors LP lifted its holdings in shares of MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after buying an additional 55,363 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after buying an additional 13,241 shares during the last quarter. State Street Corp raised its position in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares in the last quarter. Finally, Makena Capital Management LLC raised its position in MasTec by 41.4% during the third quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock valued at $10,728,000 after acquiring an additional 25,532 shares in the last quarter. 78.10% of the stock is 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.