MasTec (NYSE:MTZ) PT Raised to $150.00 at Citigroup

MasTec (NYSE:MTZ) had its target price raised by equities research analysts at Citigroup from $122.00 to $150.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective suggests a potential upside of 22.63% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus boosted their price objective on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. DA Davidson boosted 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. B. Riley raised their price objective on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. assumed coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 target price for the company. Finally, KeyCorp increased their target price on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.00.

MasTec Stock Performance

MTZ opened at $122.32 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. MasTec has a 52-week low of $44.65 and a 52-week high of $130.22. The firm has a market cap of $9.72 billion, a P/E ratio of -873.71 and a beta of 1.70. The business’s fifty day moving average is $117.54 and its 200-day moving average is $108.19.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts expect that MasTec will post 2.69 EPS for the current fiscal year.

Insider Activity

In related news, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 216,402 shares of the company’s stock, 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 document filed with the SEC, which is available through the SEC website. In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares in the company, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,800 shares of company stock valued at $2,978,212. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. boosted its position in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. Blue Trust Inc. boosted its position in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after purchasing an additional 138 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. DMC Group LLC grew its stake in MasTec by 5.5% during the first quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock worth $265,000 after purchasing an additional 147 shares during the period. Finally, Second Line Capital LLC increased its holdings in MasTec by 0.8% in the first quarter. Second Line Capital LLC now owns 30,026 shares of the construction company’s stock worth $2,800,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.