JPMorgan Chase & Co. Increases MasTec (NYSE:MTZ) Price Target to $172.00

MasTec (NYSE:MTZGet Free Report) had its price objective increased by research analysts at JPMorgan Chase & Co. from $154.00 to $172.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 23.16% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Guggenheim initiated coverage on shares of MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. KeyCorp lifted their target price on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Truist Financial increased their price target on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Craig Hallum boosted their price objective on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Robert W. Baird increased their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.57.

Read Our Latest Research Report on MTZ

MasTec Stock Performance

MTZ stock opened at $139.65 on Tuesday. The stock’s 50 day simple moving average is $143.01 and its 200 day simple moving average is $126.93. MasTec has a 12-month low of $65.67 and a 12-month high of $166.95. The firm has a market cap of $11.07 billion, a P/E ratio of 124.69 and a beta of 1.74. 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 Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,023 shares of company stock valued at $4,515,089 over the last ninety days. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legato Capital Management LLC raised its holdings in shares of MasTec by 14.0% during the fourth quarter. Legato Capital Management LLC now owns 17,524 shares of the construction company’s stock valued at $2,386,000 after acquiring an additional 2,155 shares during the period. Entropy Technologies LP purchased a new position in MasTec during the 4th quarter worth approximately $1,301,000. BayBridge Capital Group LLC acquired a new stake in MasTec during the 4th quarter valued at $423,000. Lecap Asset Management Ltd. lifted its holdings in shares of MasTec by 126.1% in the fourth quarter. Lecap Asset Management Ltd. now owns 16,546 shares of the construction company’s stock valued at $2,253,000 after purchasing an additional 9,228 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec in the fourth quarter valued at $25,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Company Profile

(Get Free Report)

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.

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