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

MasTec (NYSE:MTZ) had its price target raised by research analysts at UBS Group from $129.00 to $147.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. UBS Group’s target price indicates a potential upside of 18.04% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group increased their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. B. Riley increased their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus raised their price target on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Citigroup raised their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, KeyCorp raised their price target 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.00.

MasTec Price Performance

Shares of MasTec stock traded down $0.85 on Wednesday, hitting $124.53. 89,092 shares of the company traded hands, compared to its average volume of 843,916. The firm’s 50-day simple moving average is $117.27 and its 200 day simple moving average is $108.09. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The company has a market cap of $9.89 billion, a P/E ratio of -889.50 and a beta of 1.70. MasTec has a 12-month low of $44.65 and a 12-month high of $130.22.

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

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The shares were 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 directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated 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 directly owns 216,402 shares of the company’s stock, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,800 shares of company stock valued at $2,978,212. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Large investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of MasTec in the first quarter worth approximately $785,000. Swedbank AB bought a new stake in MasTec during the first quarter valued at approximately $5,287,000. Interval Partners LP bought a new stake in MasTec during the first quarter valued at approximately $4,230,000. Boston Partners bought a new stake in MasTec during the first quarter valued at approximately $748,000. Finally, Texas Permanent School Fund Corp grew its position in MasTec by 8.9% during the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after buying an additional 4,716 shares during the period. 78.10% of the stock is currently owned by institutional investors.

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.