Stifel Nicolaus Increases MasTec (NYSE:MTZ) Price Target to $150.00

MasTec (NYSE:MTZ) had its price target lifted by analysts at Stifel Nicolaus from $121.00 to $150.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 17.74% from the company’s current price.

A number of other equities research analysts also recently commented on MTZ. KeyCorp lifted their target price on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Truist Financial upped their price objective on MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday. Citigroup raised their target price on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. DA Davidson upped their price target on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, B. Riley increased their price objective on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $127.62.

MasTec Stock Up 0.5 %

MTZ stock opened at $127.40 on Thursday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 1,415.56 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. MasTec has a 1-year low of $44.65 and a 1-year high of $130.22. The business has a fifty day moving average price of $114.37 and a 200-day moving average price of $106.25.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. MasTec’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Equities analysts forecast that MasTec will post 2.69 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other MasTec news, COO Robert E. Apple sold 800 shares of the 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 completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,800 shares of company stock valued at $2,978,212 over the last ninety days. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of MasTec

A number of large investors have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new stake in MasTec during the second quarter valued at $27,000. Quarry LP bought a new stake in shares of MasTec in the 4th 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 valued at $39,000 after buying an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of MasTec in the 2nd quarter valued at about $40,000. Finally, UMB Bank n.a. grew its position in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares in the last quarter. 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.