MasTec (NYSE:MTZ) Price Target Raised to $267.00

MasTec (NYSE:MTZ) had its price objective lifted by Stifel Nicolaus from $240.00 to $267.00 in a report published on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on the company. Roth Capital raised their price objective on MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen lowered shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 19th. Guggenheim reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of MasTec in a research report on Wednesday, October 15th. Barclays increased their price objective on shares of MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.06.

MasTec Stock Performance

Shares of MasTec stock opened at $213.71 on Tuesday. The company has a market cap of $16.86 billion, a PE ratio of 50.76 and a beta of 1.94. MasTec has a 52 week low of $99.70 and a 52 week high of $233.14. The business has a 50 day moving average price of $207.19 and a 200-day moving average price of $190.16. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the transaction, the director owned 33,277 shares of the company’s stock, valued at $7,001,148.03. The trade was a 5.67% decrease in their position. The SEC filing for this sale provides additional information. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MasTec

Several institutional investors have recently added to or reduced their stakes in MTZ. Salomon & Ludwin LLC increased its stake in shares of MasTec by 344.4% in the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co purchased a new position in MasTec in the 2nd quarter valued at approximately $29,000. Parkside Financial Bank & Trust raised its holdings in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after acquiring an additional 137 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of MasTec during the second quarter worth $35,000. Finally, Evelyn Partners Asset Management Ltd bought a new position in shares of MasTec in the second quarter worth $43,000. 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.