MasTec (NYSE:MTZ) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

MasTec (NYSE:MTZ) had its price target upped by equities researchers at Stifel Nicolaus from $155.00 to $185.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 15.57% from the company’s previous close.

Several other research analysts have also recently weighed in on MTZ. Robert W. Baird boosted their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. assumed coverage on MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price for the company. Craig Hallum upped their price objective on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. KeyCorp lifted their target price on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, UBS Group increased their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.21.

MasTec Price Performance

Shares of NYSE MTZ opened at $160.08 on Wednesday. The firm has a 50-day simple moving average of $142.40 and a 200-day simple moving average of $125.48. 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 stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 142.93 and a beta of 1.74. MasTec has a 52 week low of $62.87 and a 52 week high of $166.95.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on 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 transaction, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at $26,746,507.26. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,023 shares of company stock worth $4,515,089 in the last three months. 21.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec during the third quarter worth approximately $25,000. R Squared Ltd purchased a new stake in shares of MasTec in the 4th quarter valued at approximately $44,000. UMB Bank n.a. raised its holdings in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of MasTec in the 3rd quarter valued at $57,000. Finally, GAMMA Investing LLC lifted its position in shares of MasTec by 39.9% during the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $63,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other 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.