MasTec (NYSE:MTZ) Shares Gap Up After Analyst Upgrade

Shares of MasTec, Inc. (NYSE:MTZ) gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $154.00 to $172.00. The stock had previously closed at $130.84, but opened at $136.22. JPMorgan Chase & Co. currently has an overweight rating on the stock. MasTec shares last traded at $135.09, with a volume of 113,220 shares changing hands.

A number of other equities analysts also recently weighed in on the stock. B. Riley reissued a “buy” rating and issued a $166.00 price target (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Stifel Nicolaus increased their target price on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Guggenheim started coverage on shares of MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective for the company. TD Cowen boosted their price target on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.57.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were 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 $6,159,310. This trade represents a 6.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,023 shares of company stock worth $4,515,089 over the last three months. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB bought a new position in shares of MasTec during the third quarter valued at $25,000. Ameliora Wealth Management Ltd. bought a new stake in MasTec during the 4th quarter valued at about $25,000. R Squared Ltd bought a new stake in MasTec during the 4th quarter valued at about $44,000. UMB Bank n.a. raised its holdings in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in shares of MasTec in the third quarter worth approximately $57,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 3.4 %

The stock has a market cap of $11.07 billion, a PE ratio of 124.69 and a beta of 1.74. The stock’s fifty day moving average price is $143.01 and its 200 day moving average price is $126.93. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

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.