MasTec (NYSE:MTZ) Stock Rating Upgraded by Truist Financial

Truist Financial upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat.com reports. Truist Financial currently has $173.00 price target on the construction company’s stock, up from their prior price target of $133.00.

Several other research analysts also recently issued reports on MTZ. TD Cowen upped their price target on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group raised their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research report on Monday. B. Riley raised their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. assumed coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Stock Up 3.0 %

Shares of MTZ opened at $136.65 on Tuesday. The business’s 50 day simple moving average is $120.16 and its 200-day simple moving average is $110.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec has a one year low of $46.70 and a one year high of $139.39. The company has a market capitalization of $10.83 billion, a P/E ratio of 122.01 and a beta of 1.70.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by insiders.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in MasTec by 0.8% in the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after purchasing an additional 101 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of MasTec in the 3rd quarter valued at approximately $549,000. Lisanti Capital Growth LLC grew its stake in shares of MasTec by 31.4% in the third quarter. Lisanti Capital Growth LLC now owns 43,090 shares of the construction company’s stock valued at $5,304,000 after buying an additional 10,305 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of MasTec in the third quarter valued at $3,195,000. Finally, Crossmark Global Holdings Inc. increased its holdings in MasTec by 216.4% during the third quarter. Crossmark Global Holdings Inc. now owns 11,673 shares of the construction company’s stock worth $1,437,000 after buying an additional 7,984 shares during the last quarter. 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.