MasTec (NYSE:MTZ) Price Target Raised to $189.00 at Truist Financial

MasTec (NYSE:MTZ) had its price target hoisted by equities researchers at Truist Financial from $173.00 to $189.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price suggests a potential upside of 38.40% from the company’s current price.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective for the company. 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. TD Cowen raised their target price on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group lifted their target price on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Craig Hallum increased their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average target price of $150.23.

MasTec Price Performance

Shares of NYSE:MTZ opened at $136.56 on Thursday. The company has a 50-day moving average price of $135.24 and a two-hundred day moving average price of $119.27. 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 firm has a market capitalization of $10.82 billion, a PE ratio of 121.93 and a beta of 1.72.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction 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 approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following 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 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 three months. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of MasTec during the 2nd quarter valued at about $288,000. Blue Trust Inc. raised its holdings in MasTec by 32.6% in the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares in the last quarter. Raymond James & Associates lifted its position in MasTec by 43.4% during the second quarter. Raymond James & Associates now owns 48,230 shares of the construction company’s stock valued at $5,160,000 after buying an additional 14,608 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of MasTec during the 2nd quarter valued at $215,000. Finally, Tributary Capital Management LLC grew its position in shares of MasTec by 88.5% in the 2nd quarter. Tributary Capital Management LLC now owns 7,670 shares of the construction company’s stock worth $821,000 after buying an additional 3,600 shares during the period. 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.