Truist Financial Raises MasTec (NYSE:MTZ) Price Target to $189.00

MasTec (NYSE:MTZ) had its price target lifted by analysts at Truist Financial from $173.00 to $189.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target would suggest a potential upside of 38.40% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. UBS Group boosted their price target on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp boosted 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. Craig Hallum raised their price target on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. B. Riley reiterated a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.23.

MasTec Stock Up 3.4 %

Shares of MTZ opened at $136.56 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec has a 52 week low of $60.96 and a 52 week high of $150.12. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 121.93 and a beta of 1.72. The stock has a fifty day moving average of $135.24 and a 200-day moving average of $119.27.

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 800 shares of the 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 sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,823 shares of company stock worth $4,619,121 in the last ninety days. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of institutional investors have recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. boosted its stake in shares of MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after buying an additional 895,227 shares during the last quarter. State Street Corp boosted its position in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Hood River Capital Management LLC grew its stake in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares during the period. Geode Capital Management LLC increased its position in shares of MasTec by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares during the last quarter. 78.10% of the stock is 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.