MasTec (NYSE:MTZ) Price Target Raised to $270.00

MasTec (NYSE:MTZ) had its price objective increased by Truist Financial from $253.00 to $270.00 in a research note published on Thursday morning, MarketBeat.com reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other equities analysts also recently weighed in on MTZ. Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 19th. Stifel Nicolaus lifted their price target on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wolfe Research upgraded MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Wednesday, September 17th. Zacks Research lowered MasTec from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Robert W. Baird boosted their price target on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $232.06.

MasTec Stock Performance

Shares of MTZ stock opened at $218.41 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The firm has a 50-day moving average of $207.65 and a 200-day moving average of $190.80. MasTec has a one year low of $99.70 and a one year high of $233.14. The company has a market cap of $17.23 billion, a P/E ratio of 51.88 and a beta of 1.94.

Insider Buying and Selling at MasTec

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of MasTec by 0.6% during the third quarter. Vanguard Group Inc. now owns 6,007,192 shares of the construction company’s stock worth $1,278,391,000 after acquiring an additional 34,899 shares in the last quarter. Hill City Capital LP lifted its holdings in MasTec by 0.7% during the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company’s stock worth $250,343,000 after purchasing an additional 15,000 shares in the last quarter. Invesco Ltd. lifted its holdings in MasTec by 6.1% during the 2nd quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock worth $300,817,000 after purchasing an additional 102,072 shares in the last quarter. Hood River Capital Management LLC boosted its stake in MasTec by 8.9% in the 2nd quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after purchasing an additional 138,269 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in MasTec by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company’s stock valued at $142,331,000 after buying an additional 39,622 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.