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

MasTec (NYSE:MTZ) had its target price lifted by Robert W. Baird from $120.00 to $153.00 in a research note published on Monday, Benzinga reports. Robert W. Baird currently has a neutral rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. Citigroup raised their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. DA Davidson boosted 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. B. Riley increased their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial boosted their price target on MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, UBS Group raised their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Stock Performance

Shares of MTZ stock opened at $140.63 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a 12-month low of $46.70 and a 12-month high of $140.98. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 125.56 and a beta of 1.70. The stock has a 50 day simple moving average of $120.78 and a 200-day simple moving average of $110.95.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other MasTec news, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,823 shares of company stock worth $5,558,301. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in MasTec by 156.6% in the first quarter. BNP Paribas Financial Markets now owns 19,359 shares of the construction company’s stock valued at $1,805,000 after purchasing an additional 11,816 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of MasTec during the 1st quarter worth $463,000. Jennison Associates LLC purchased a new position in shares of MasTec in the 1st quarter worth $231,000. Texas Permanent School Fund Corp boosted its holdings in MasTec by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock valued at $4,924,000 after acquiring an additional 817 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP purchased a new stake in MasTec during the first quarter valued at about $843,000. 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.