MasTec (NYSE:MTZ) Stock Price Expected to Rise, Truist Financial Analyst Says

MasTec (NYSE:MTZ) had its price objective boosted by stock analysts at Truist Financial from $173.00 to $189.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective indicates a potential upside of 43.60% from the company’s previous close.

A number of other research analysts have also issued reports on MTZ. Stifel Nicolaus raised their price objective on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. UBS Group boosted their price objective on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, TD Cowen lifted their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.23.

MasTec Price Performance

Shares of NYSE:MTZ traded up $0.91 during trading on Thursday, hitting $131.62. 93,435 shares of the company were exchanged, compared to its average volume of 851,578. MasTec has a 1-year low of $60.96 and a 1-year high of $150.12. The company has a market capitalization of $10.43 billion, a P/E ratio of 117.52 and a beta of 1.72. 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 business’s 50 day moving average is $134.95 and its 200-day moving average is $119.01.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business’s 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 directly owns 42,478 shares of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,823 shares of company stock worth $7,144,521 in the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the 3rd quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new position in shares of MasTec during the second quarter valued at about $40,000. UMB Bank n.a. increased its position in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of MasTec in the 3rd quarter worth about $57,000. Finally, Blue Trust Inc. lifted its position in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

About MasTec

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.