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

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

Other equities research analysts have also recently issued reports about the stock. 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. B. Riley raised their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.00.

MasTec Trading Down 0.7 %

Shares of MTZ stock traded down $0.85 during trading hours on Wednesday, hitting $124.53. 89,092 shares of the company’s stock traded hands, compared to its average volume of 843,916. The stock’s 50 day simple moving average is $117.27 and its 200 day simple moving average is $108.09. The stock has a market cap of $9.89 billion, a PE 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. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm earned $0.81 earnings per share. MasTec’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that MasTec will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other MasTec 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 value of $104,032.00. Following the sale, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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

Institutional investors and hedge funds have recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new stake in MasTec in the 2nd quarter worth approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in MasTec in the 2nd quarter worth approximately $40,000. GAMMA Investing LLC lifted its stake in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. UMB Bank n.a. lifted its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares in the last quarter. 78.10% of the stock is currently 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.