TD Cowen Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

MasTec (NYSE:MTZ) had its price target lifted by investment analysts at TD Cowen from $115.00 to $160.00 in a note issued to investors on Monday, Marketbeat.com reports. The firm presently has a “buy” rating on the construction company’s stock. TD Cowen’s target price suggests a potential upside of 17.09% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. UBS Group raised their price objective on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial raised their price target on shares of MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. KeyCorp upped their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. started coverage on MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Finally, Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday. Two investment 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

MasTec Stock Performance

Shares of NYSE MTZ opened at $136.65 on Monday. MasTec has a one year low of $46.70 and a one year high of $139.39. The business’s 50-day moving average price is $120.16 and its two-hundred day moving average price is $110.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market capitalization of $10.83 billion, a P/E ratio of 122.01 and a beta of 1.70.

Insider Activity at MasTec

In other news, 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 transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $26,746,507.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,823 shares of company stock worth $5,558,301 in the last ninety days. 21.30% of the stock is currently owned by insiders.

Institutional Trading of MasTec

Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its holdings in shares of MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after acquiring an additional 1,356,634 shares during the period. D1 Capital Partners L.P. acquired a new stake in MasTec in the 2nd quarter valued at about $79,494,000. Hood River Capital Management LLC raised its position in MasTec by 59.8% in the 2nd 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. AQR Capital Management LLC raised its position in shares of MasTec by 3,439.7% during the second quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company’s stock worth $28,085,000 after acquiring an additional 255,088 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in MasTec by 205.4% during the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock worth $34,613,000 after purchasing an additional 190,320 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.