JPMorgan Chase & Co. Increases MasTec (NYSE:MTZ) Price Target to $172.00

MasTec (NYSE:MTZ) had its price target raised by JPMorgan Chase & Co. from $154.00 to $172.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

A number of other analysts have also weighed in on the stock. TD Cowen raised their price target on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird lifted their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. B. Riley reissued a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Truist Financial lifted their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Craig Hallum increased their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and a consensus target price of $158.57.

MasTec Stock Up 5.4 %

Shares of NYSE MTZ opened at $147.07 on Tuesday. MasTec has a 12-month low of $65.67 and a 12-month high of $166.95. The firm’s 50-day simple moving average is $143.11 and its 200 day simple moving average is $127.07. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 131.31 and a beta of 1.74.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec during the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. bought a new position in shares of MasTec in the 4th quarter valued at $25,000. R Squared Ltd bought a new position in shares of MasTec in the 4th quarter valued at $44,000. UMB Bank n.a. lifted its position in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of MasTec during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.