MasTec (NYSE:MTZ) Rating Increased to Buy at Truist Financial

Truist Financial upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a report published on Tuesday, Marketbeat.com reports. The firm currently has $173.00 price objective on the construction company’s stock, up from their prior price objective of $133.00.

Several other equities research analysts have also recently weighed in on MTZ. DA Davidson upped their price objective on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. TD Cowen boosted their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. UBS Group increased their price target on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their target price on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average target price of $148.62.

MasTec Price Performance

MasTec stock traded up $0.61 during mid-day trading on Tuesday, reaching $142.14. 12,430 shares of the company were exchanged, compared to its average volume of 851,944. The company has a fifty day simple moving average of $121.40 and a 200-day simple moving average of $111.17. The firm has a market cap of $11.26 billion, a PE ratio of 126.46 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec has a 12 month low of $47.02 and a 12 month high of $144.15.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, 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 42,823 shares of company stock valued at $5,558,301 over the last quarter. 21.30% of the stock is owned by company insiders.

Institutional Trading of MasTec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after buying an additional 1,356,634 shares during the period. D1 Capital Partners L.P. acquired a new stake in MasTec during the 2nd quarter worth about $79,494,000. Hood River Capital Management LLC raised its position in shares of 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 worth $127,773,000 after acquiring an additional 446,762 shares in the last quarter. AQR Capital Management LLC raised its position in shares of MasTec by 3,439.7% in the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after acquiring an additional 255,088 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of MasTec by 205.4% in the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock valued at $34,613,000 after purchasing an additional 190,320 shares during the period. 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.