MasTec (NYSE:MTZ) Price Target Raised to $122.00 at Citigroup

MasTec (NYSE:MTZ) had its price target increased by Citigroup from $118.00 to $122.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

MTZ has been the topic of a number of other reports. KeyCorp upped their price target on MasTec from $113.00 to $120.00 and gave the stock an overweight rating in a research report on Monday, May 13th. TD Cowen boosted their price objective on shares of MasTec from $105.00 to $110.00 and gave the company a buy rating in a report on Monday, May 6th. Robert W. Baird boosted their price objective on shares of MasTec from $89.00 to $110.00 and gave the company a neutral rating in a report on Monday, May 6th. Craig Hallum boosted their price objective on shares of MasTec from $96.00 to $125.00 and gave the company a buy rating in a report on Monday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of MasTec from $88.00 to $109.00 and gave the company a neutral rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec has an average rating of Moderate Buy and a consensus price target of $117.62.

MasTec Stock Performance

Shares of MTZ stock opened at $105.66 on Monday. The business’s fifty day simple moving average is $107.60 and its 200-day simple moving average is $91.19. The company has a market cap of $8.40 billion, a PE ratio of -754.71 and a beta of 1.65. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. MasTec has a 12-month low of $44.65 and a 12-month high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.62 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Analysts expect that MasTec will post 2.59 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In other MasTec news, Director Javier Alberto Palomarez sold 2,850 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.67, for a total value of $304,009.50. Following the sale, the director now directly owns 10,666 shares of the company’s stock, valued at $1,137,742.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other MasTec news, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the transaction, the director now owns 50,725 shares in the company, valued at $5,579,750. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Javier Alberto Palomarez sold 2,850 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.67, for a total transaction of $304,009.50. Following the completion of the transaction, the director now owns 10,666 shares of the company’s stock, valued at approximately $1,137,742.22. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in shares of MasTec in the second quarter worth about $27,000. Quarry LP acquired a new position in shares of MasTec in the fourth quarter worth about $37,000. GAMMA Investing LLC raised its position in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the last quarter. Bessemer Group Inc. raised its position in shares of MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after purchasing an additional 598 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds 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.