MasTec (NYSE:MTZ) Stock Price Expected to Rise, Craig Hallum Analyst Says

MasTec (NYSE:MTZ) had its target price raised by investment analysts at Craig Hallum from $125.00 to $150.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Craig Hallum’s target price would suggest a potential upside of 12.85% from the company’s current price.

Several other analysts have also commented on MTZ. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. Robert W. Baird raised their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday. UBS Group raised their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, KeyCorp raised their target price on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.08.

MasTec Price Performance

MTZ traded up $2.92 on Monday, hitting $132.92. 350,888 shares of the company were exchanged, compared to its average volume of 849,471. The business’s fifty day moving average is $119.20 and its 200 day moving average is $110.03. The firm has a market capitalization of $10.53 billion, a P/E ratio of 118.05 and a beta of 1.70. MasTec has a fifty-two week low of $46.70 and a fifty-two week high of $138.87. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. MasTec had a net margin of 0.73% and a return on equity of 8.35%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 earnings per share. As a group, sell-side analysts anticipate that MasTec will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Robert E. Apple sold 800 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,800 shares of company stock valued at $2,978,212 over the last quarter. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Institutional investors have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new position in MasTec in the 2nd quarter worth $27,000. DekaBank Deutsche Girozentrale acquired a new position in MasTec in the 2nd quarter worth $40,000. GAMMA Investing LLC lifted its holdings 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 buying an additional 144 shares in the last quarter. UMB Bank n.a. lifted its holdings 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 buying an additional 120 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 buying an additional 138 shares in the last quarter. Institutional investors and hedge funds 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.