MasTec (NYSE:MTZ) Price Target Raised to $147.00 at UBS Group

MasTec (NYSE:MTZ) had its price objective hoisted by UBS Group from $129.00 to $147.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other analysts have also issued research reports about the company. Citigroup lifted their target price on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group boosted their target price on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. 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 boosted their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on shares of MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

MasTec Price Performance

MTZ opened at $121.95 on Wednesday. The firm has a market cap of $9.69 billion, a PE ratio of -871.07 and a beta of 1.70. The stock has a 50-day moving average price of $118.00 and a 200-day moving average price of $108.59. MasTec has a 1 year low of $44.65 and a 1 year high of $130.22. 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 released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business earned $0.81 EPS. MasTec’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that MasTec will post 2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on 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 directly owns 216,402 shares in the company, valued at $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,800 shares of company stock worth $2,978,212. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System boosted its holdings in shares of MasTec by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $3,269,000 after purchasing an additional 100 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in shares of MasTec by 105.9% in the third quarter. Pallas Capital Advisors LLC now owns 7,175 shares of the construction company’s stock worth $879,000 after buying an additional 3,691 shares in the last quarter. Semanteon Capital Management LP bought a new position in MasTec during the third quarter valued at approximately $877,000. Custom Index Systems LLC purchased a new position in MasTec during the 3rd quarter valued at approximately $458,000. Finally, State of Alaska Department of Revenue increased its stake in MasTec by 7.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company’s stock worth $863,000 after acquiring an additional 485 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.