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

MasTec (NYSE:MTZ - Get Free Report) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $154.00 to $172.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 27.54% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Craig Hallum raised their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. TD Cowen upped their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. The Goldman Sachs Group boosted their price objective on MasTec from $115.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. KeyCorp raised their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Finally, Truist Financial increased their target price 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. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, MasTec currently has an average rating of "Moderate Buy" and an average price target of $158.57.

MasTec Trading Up 3.1 %

Shares of MTZ traded up $4.02 during mid-day trading on Tuesday, reaching $134.86. 1,836,025 shares of the company were exchanged, compared to its average volume of 1,024,348. The stock has a market capitalization of $10.69 billion, a PE ratio of 120.41 and a beta of 1.74. MasTec has a 52 week low of $64.39 and a 52 week high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The business has a 50 day simple moving average of $143.19 and a two-hundred day simple moving average of $126.64.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction 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 of the company's stock, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,023 shares of company stock valued at $4,515,089. Insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP bought a new position in shares of MasTec during the 4th quarter worth approximately $1,301,000. BayBridge Capital Group LLC acquired a new position in shares of MasTec during the fourth quarter worth $423,000. Lecap Asset Management Ltd. lifted its holdings in shares of MasTec by 126.1% during the 4th quarter. Lecap Asset Management Ltd. now owns 16,546 shares of the construction company's stock valued at $2,253,000 after purchasing an additional 9,228 shares during the last quarter. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the 4th quarter worth $25,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in MasTec during the 4th quarter worth $1,480,000. Hedge funds and other institutional investors 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.