MasTec (NYSE:MTZ) Upgraded at Truist Financial

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

A number of other equities research analysts also recently commented on MTZ. B. Riley upped their price objective on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Robert W. Baird lifted their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday. TD Cowen lifted their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group upped their price objective on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Trading Up 0.4 %

NYSE MTZ traded up $0.61 during trading hours on Tuesday, hitting $142.14. The company’s stock had a trading volume of 12,430 shares, compared to its average volume of 851,944. The stock has a fifty day moving average of $121.40 and a 200 day moving average of $111.17. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a twelve month low of $47.02 and a twelve month high of $144.15. The firm has a market capitalization of $11.26 billion, a P/E ratio of 126.46 and a beta of 1.70.

Insiders Place Their Bets

In other 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 sale, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Robert E. Apple sold 19,023 shares of the 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 transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock valued at $5,558,301 in the last quarter. 21.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MasTec

Several large investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in MasTec in the third quarter valued at $1,174,000. Caprock Group LLC grew its holdings in MasTec by 13.4% during the third quarter. Caprock Group LLC now owns 2,999 shares of the construction company’s stock worth $369,000 after purchasing an additional 354 shares during the period. LMR Partners LLP acquired a new position in MasTec during the third quarter worth approximately $412,000. Quest Partners LLC raised its stake in MasTec by 360,900.0% in the third quarter. Quest Partners LLC now owns 7,220 shares of the construction company’s stock valued at $889,000 after buying an additional 7,218 shares during the period. Finally, Claro Advisors LLC acquired a new stake in shares of MasTec in the third quarter valued at approximately $230,000. Institutional investors and hedge funds 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.