MasTec (NYSE:MTZ) Price Target Raised to $189.00 at Truist Financial

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

MTZ has been the topic of several other research reports. KeyCorp upped their target price on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. started coverage on shares of MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. B. Riley restated a “buy” rating and set a $166.00 price objective (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Craig Hallum increased their target price on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, UBS Group boosted their price target 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average price target of $150.23.

MasTec Stock Up 0.1 %

Shares of MasTec stock opened at $132.17 on Thursday. The firm has a market cap of $10.47 billion, a PE ratio of 118.01 and a beta of 1.72. MasTec has a 52-week low of $60.96 and a 52-week high of $150.12. The business’s 50 day simple moving average is $135.06 and its 200 day simple moving average is $119.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The stock was 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. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,823 shares of company stock worth $4,619,121. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. raised its position in MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after purchasing an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in MasTec during the second quarter valued at approximately $79,494,000. Hood River Capital Management LLC lifted its position in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after acquiring an additional 446,762 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after buying an additional 289,090 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after buying an additional 279,778 shares during the last quarter. Hedge funds and other institutional investors 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.