Truist Financial Boosts MasTec (NYSE:MTZ) Price Target to $133.00

MasTec (NYSE:MTZ) had its price target hoisted by Truist Financial from $112.00 to $133.00 in a research report released on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on the stock. B. Riley lifted their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a buy rating in a report on Monday, August 5th. JPMorgan Chase & Co. started coverage on MasTec in a research note on Monday, October 7th. They set an overweight rating and a $153.00 price target for the company. DA Davidson increased their price objective on MasTec from $120.00 to $125.00 and gave the stock a buy rating in a research note on Monday, August 5th. Stifel Nicolaus lifted their target price on MasTec from $120.00 to $121.00 and gave the company a buy rating in a research report on Monday, August 5th. Finally, KeyCorp increased their price target on MasTec from $123.00 to $145.00 and gave the company an overweight rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, MasTec presently has a consensus rating of Moderate Buy and an average price target of $127.62.

MasTec Price Performance

Shares of MTZ opened at $127.40 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The stock has a market cap of $10.09 billion, a PE ratio of 1,415.56 and a beta of 1.70. MasTec has a 12-month low of $44.65 and a 12-month high of $130.22. The business has a 50-day simple moving average of $114.37 and a two-hundred day simple moving average of $106.25.

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

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm’s 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 transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,800 shares of company stock valued at $2,978,212 over the last ninety days. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MasTec

Several institutional investors and hedge funds have recently made changes to their positions in MTZ. Creative Planning lifted its holdings in shares of MasTec by 9.5% during the 3rd quarter. Creative Planning now owns 2,909 shares of the construction company’s stock valued at $358,000 after buying an additional 253 shares during the period. Wedge Capital Management L L P NC purchased a new stake in MasTec during the third quarter valued at $4,574,000. Exchange Traded Concepts LLC lifted its holdings in MasTec by 42.9% in the third quarter. Exchange Traded Concepts LLC now owns 4,630 shares of the construction company’s stock valued at $570,000 after acquiring an additional 1,389 shares during the period. UMB Bank n.a. boosted its position in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the last quarter. Finally, CWM LLC grew its stake in shares of MasTec by 225.7% during the 3rd quarter. CWM LLC now owns 13,333 shares of the construction company’s stock valued at $1,641,000 after purchasing an additional 9,239 shares during the period. 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.