JPMorgan Chase & Co. Boosts MasTec (NYSE:MTZ) Price Target to $172.00

MasTec (NYSE:MTZ) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $154.00 to $172.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 26.46% from the stock’s current price.

MTZ has been the topic of a number of other research reports. KeyCorp boosted their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. TD Cowen raised their price objective on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. Citigroup raised their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial lifted their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average price target of $158.57.

MasTec Price Performance

NYSE:MTZ traded up $5.18 during trading hours on Tuesday, hitting $136.02. 209,468 shares of the company’s stock traded hands, compared to its average volume of 922,834. The firm has a market cap of $10.78 billion, a P/E ratio of 121.29 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $143.19 and its two-hundred day simple moving average is $126.64. MasTec has a 52 week low of $64.39 and a 52 week high of $166.95.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On MasTec

Institutional investors have recently modified their holdings of the company. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec in the 4th quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in MasTec in the third quarter valued at approximately $25,000. R Squared Ltd acquired a new stake in shares of MasTec in the fourth quarter valued at approximately $44,000. UMB Bank n.a. grew its position in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of MasTec in the 3rd quarter valued at $57,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.