MasTec (NYSE:MTZ) Given New $150.00 Price Target at Citigroup

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

Several other analysts have also recently weighed in on MTZ. DA Davidson lifted their price target on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price for the company. Stifel Nicolaus raised their price target on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial raised their target price on shares of MasTec from $112.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.00.

MasTec Trading Down 0.5 %

MTZ stock opened at $121.95 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 $9.69 billion, a price-to-earnings ratio of -871.07 and a beta of 1.70. The company has a fifty day moving average price of $118.00 and a two-hundred day moving average price of $108.48. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23.

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

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated 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 owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. 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 can be accessed through the SEC website. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 800 shares of the stock in a transaction dated 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 owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,800 shares of company stock worth $2,978,212 over the last 90 days. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in MasTec by 15,067.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after acquiring an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after purchasing an additional 446,762 shares during the last quarter. D1 Capital Partners L.P. bought a new position in MasTec during the 2nd quarter worth $79,494,000. Marshall Wace LLP lifted its holdings in MasTec by 4.3% during the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock worth $76,828,000 after buying an additional 29,631 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of MasTec by 6.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock valued at $65,414,000 after buying an additional 31,266 shares during the last quarter. Institutional investors and hedge funds 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.