MasTec (NYSE:MTZ) Price Target Increased to $150.00 by Analysts at Citigroup

MasTec (NYSE:MTZ) had its target price lifted by Citigroup from $122.00 to $150.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial boosted their price objective on shares of MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price target on MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. assumed coverage on MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective for the company. The Goldman Sachs Group upped their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, KeyCorp raised their price target on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $129.77.

MasTec Price Performance

Shares of NYSE:MTZ opened at $125.38 on Tuesday. MasTec has a one year low of $44.65 and a one year high of $130.22. The stock has a market cap of $9.96 billion, a PE ratio of -895.57 and a beta of 1.70. The business’s fifty day moving average price is $117.27 and its two-hundred day moving average price is $108.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that MasTec will post 2.69 EPS for the current fiscal year.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on 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 owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 800 shares of the business’s 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 transaction, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. 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. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in MasTec during the 1st quarter worth $785,000. Swedbank AB purchased a new stake in shares of MasTec during the first quarter worth about $5,287,000. Interval Partners LP acquired a new position in shares of MasTec in the first quarter worth about $4,230,000. Boston Partners purchased a new position in MasTec in the first quarter valued at about $748,000. Finally, Texas Permanent School Fund Corp grew its stake in MasTec by 8.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after purchasing an additional 4,716 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.