MasTec (NYSE:MTZ) Stock Price Expected to Rise, Truist Financial Analyst Says

MasTec (NYSE:MTZ) had its price target lifted by Truist Financial from $173.00 to $189.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other research firms also recently commented on MTZ. Robert W. Baird upped their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. B. Riley reaffirmed a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, KeyCorp lifted their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.23.

MasTec Stock Up 0.1 %

Shares of NYSE MTZ opened at $132.17 on Thursday. The business’s fifty day simple moving average is $135.06 and its 200-day simple moving average is $119.10. MasTec has a 12-month low of $60.96 and a 12-month high of $150.12. The stock has a market cap of $10.47 billion, a P/E ratio of 118.01 and a beta of 1.72. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on 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 owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,823 shares of company stock valued at $4,619,121 in the last three months. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of large investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in shares of MasTec by 5.7% during the 3rd quarter. Tidal Investments LLC now owns 10,912 shares of the construction company’s stock worth $1,343,000 after purchasing an additional 585 shares during the last quarter. Blankinship & Foster LLC purchased a new position in shares of MasTec during the 3rd quarter worth approximately $246,000. Wilmington Savings Fund Society FSB acquired a new position in MasTec in the third quarter valued at $25,000. Sanctuary Advisors LLC acquired a new stake in shares of MasTec during the third quarter worth approximately $500,000. Finally, Virtu Financial LLC bought a new position in MasTec during the 3rd quarter worth $254,000. 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.