MasTec (NYSE:MTZ) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

MasTec (NYSE:MTZ) had its price target boosted by investment analysts at Stifel Nicolaus from $240.00 to $267.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 27.78% from the stock’s previous close.

A number of other equities research analysts have also commented on MTZ. UBS Group raised their price target on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Mizuho set a $254.00 price objective on MasTec in a research note on Monday, November 3rd. Citigroup raised their target price on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 8th. Finally, Wolfe Research raised MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.11.

MasTec Price Performance

Shares of NYSE:MTZ opened at $208.95 on Tuesday. MasTec has a 1-year low of $99.70 and a 1-year high of $233.14. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $207.12 and its 200-day moving average is $189.99. The firm has a market capitalization of $16.49 billion, a PE ratio of 49.63 and a beta of 1.94.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 33,277 shares of the company’s stock, valued at approximately $7,001,148.03. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Timothy Michael Love sold 1,929 shares of the business’s 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 sale, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of MasTec by 9,550.8% in the third quarter. Victory Capital Management Inc. now owns 946,555 shares of the construction company’s stock worth $201,295,000 after purchasing an additional 936,747 shares during the last quarter. Goldman Sachs Group Inc. grew its position in MasTec by 163.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock worth $121,843,000 after acquiring an additional 648,184 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of MasTec by 370.0% in the second quarter. Qube Research & Technologies Ltd now owns 506,857 shares of the construction company’s stock worth $86,384,000 after purchasing an additional 399,007 shares during the last quarter. 140 Summer Partners LP purchased a new position in shares of MasTec in the third quarter valued at about $81,514,000. Finally, First Trust Advisors LP increased its holdings in MasTec by 52.1% during the 3rd quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock valued at $217,529,000 after purchasing an additional 350,228 shares during the period. Hedge funds and other institutional investors 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.