MasTec (NYSE:MTZ) PT Raised to $133.00 at Truist Financial

MasTec (NYSE:MTZ) had its price objective raised by equities research analysts at Truist Financial from $112.00 to $133.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the construction company’s stock. Truist Financial’s price target would suggest a potential upside of 4.93% from the company’s current price.

Several other equities research analysts also recently commented on MTZ. Stifel Nicolaus upped their target price on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup increased their price target on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. KeyCorp lifted their price objective on MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday. B. Riley increased their target price on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. assumed coverage on shares of MasTec in a report on Monday. They issued an “overweight” rating and a $153.00 price target for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.62.

MasTec Trading Down 0.8 %

Shares of NYSE MTZ opened at $126.75 on Wednesday. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $130.22. The firm has a market capitalization of $10.07 billion, a P/E ratio of -905.36 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The company’s 50 day simple moving average is $113.87 and its 200 day simple moving average is $106.01.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, analysts predict that MasTec will post 2.71 EPS for the current year.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Robert E. Apple sold 800 shares of the business’s 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 transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,600,592.98. 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 23,800 shares of company stock worth $2,978,212 over the last ninety days. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MasTec

A number of large investors have recently added to or reduced their stakes in the business. Electron Capital Partners LLC increased its holdings in shares of MasTec by 16.1% in the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock valued at $130,633,000 after purchasing an additional 238,874 shares during the last quarter. Pacer Advisors Inc. grew its stake in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after buying an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC raised its holdings in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares during the period. Point72 Asset Management L.P. lifted its position in MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after acquiring an additional 502,039 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in MasTec during the second quarter worth approximately $79,494,000. Institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.