Brokerages Set MasTec, Inc. (NYSE:MTZ) Price Target at $232.06

Shares of MasTec, Inc. (NYSE:MTZ) have received an average recommendation of “Buy” from the twenty-one research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $232.0556.

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Jefferies Financial Group increased their price target on shares of MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price target on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Finally, Wolfe Research raised shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Wednesday, September 17th.

Insider Activity

In related news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Argent Capital Management LLC purchased a new stake in shares of MasTec during the fourth quarter valued at $203,000. Park Avenue Securities LLC increased its stake in MasTec by 56.5% in the 4th quarter. Park Avenue Securities LLC now owns 4,006 shares of the construction company’s stock worth $871,000 after buying an additional 1,446 shares during the period. Union Bancaire Privee UBP SA lifted its holdings in MasTec by 192.1% during the 4th quarter. Union Bancaire Privee UBP SA now owns 14,046 shares of the construction company’s stock valued at $3,053,000 after buying an additional 9,238 shares in the last quarter. GAMMA Investing LLC lifted its holdings in MasTec by 21.7% during the 4th quarter. GAMMA Investing LLC now owns 1,744 shares of the construction company’s stock valued at $379,000 after buying an additional 311 shares in the last quarter. Finally, PVG Asset Management Corp purchased a new stake in MasTec in the 3rd quarter valued at about $212,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 1.4%

MTZ stock opened at $235.79 on Friday. The firm has a fifty day moving average price of $212.15 and a 200 day moving average price of $196.27. MasTec has a fifty-two week low of $99.70 and a fifty-two week high of $237.76. The firm has a market cap of $18.60 billion, a PE ratio of 56.01 and a beta of 1.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33.

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.