Brokerages Set MasTec, Inc. (NYSE:MTZ) PT at $150.23

MasTec, Inc. (NYSE:MTZ) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $150.23.

MTZ has been the topic of several analyst reports. Citigroup upped their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley reiterated a “buy” rating and set a $166.00 price objective (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. UBS Group lifted their price objective on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. started coverage on shares of MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th.

MasTec Stock Performance

NYSE MTZ opened at $135.73 on Wednesday. MasTec has a twelve month low of $60.96 and a twelve month high of $150.12. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $10.75 billion, a P/E ratio of 121.19 and a beta of 1.72. The company’s 50-day simple moving average is $136.20 and its 200 day simple moving average is $120.10.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the 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 $6,159,310. This represents a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,823 shares of company stock worth $4,619,121 over the last 90 days. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atom Investors LP lifted its holdings in shares of MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after purchasing an additional 55,363 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after buying an additional 4,716 shares in the last quarter. State Street Corp boosted its holdings in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after buying an additional 24,522 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MasTec during the third quarter worth $1,470,000. Finally, Makena Capital Management LLC lifted its position in MasTec by 41.4% in the 3rd quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock valued at $10,728,000 after acquiring an additional 25,532 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

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.