MasTec (NYSE:MTZ) Given New $185.00 Price Target at Stifel Nicolaus

MasTec (NYSE:MTZ) had its target price increased by Stifel Nicolaus from $155.00 to $185.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 14.50% from the company’s current price.

MTZ has been the topic of several other reports. Truist Financial lifted their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. B. Riley restated a “buy” rating and set a $166.00 target price (up from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Craig Hallum increased their price objective on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Finally, KeyCorp upped their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.21.

MasTec Trading Up 0.5 %

MTZ traded up $0.78 during trading on Wednesday, hitting $161.57. 376,293 shares of the company’s stock were exchanged, compared to its average volume of 833,846. MasTec has a 1 year low of $60.96 and a 1 year high of $166.95. The stock has a 50 day moving average price of $142.01 and a 200 day moving average price of $125.25. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a market cap of $12.80 billion, a P/E ratio of 144.16 and a beta of 1.74.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on 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 transaction, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,023 shares of company stock worth $4,515,089 over the last quarter. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasTec

A number of large investors have recently bought and sold shares of MTZ. Wilmington Savings Fund Society FSB purchased a new stake in MasTec in the 3rd quarter worth approximately $25,000. 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. True Wealth Design LLC acquired a new position in MasTec during the third quarter worth $57,000. GAMMA Investing LLC grew its holdings in shares of MasTec by 39.9% in the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after purchasing an additional 146 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of MasTec during the 3rd quarter valued at approximately $84,000. Institutional investors own 78.10% of the company’s stock.

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.