MasTec (NYSE:MTZ) Shares Gap Up on Analyst Upgrade

Shares of MasTec, Inc. (NYSE:MTZ - Get Free Report) gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $154.00 to $172.00. The stock had previously closed at $130.84, but opened at $136.22. JPMorgan Chase & Co. currently has an overweight rating on the stock. MasTec shares last traded at $135.09, with a volume of 113,220 shares traded.

A number of other equities analysts also recently commented on MTZ. Craig Hallum increased their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. UBS Group boosted their price objective on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. TD Cowen increased their price objective 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. Truist Financial increased their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, Citigroup raised their price target on shares of MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.57.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction on Friday, November 1st. The stock was 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 owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now directly owns 42,478 shares of the company's stock, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. 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 corporate insiders.

Institutional Investors Weigh In On MasTec

Several large investors have recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new position in MasTec in the 4th quarter worth approximately $1,301,000. BayBridge Capital Group LLC bought a new position in MasTec in the 4th quarter worth $423,000. Lecap Asset Management Ltd. raised its holdings in MasTec by 126.1% in the fourth quarter. Lecap Asset Management Ltd. now owns 16,546 shares of the construction company's stock worth $2,253,000 after purchasing an additional 9,228 shares in the last quarter. Ameliora Wealth Management Ltd. bought a new position in shares of MasTec during the fourth quarter valued at approximately $25,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of MasTec in the 4th quarter worth about $1,480,000. Institutional investors own 78.10% of the company's stock.

MasTec Stock Up 3.1 %

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company's 50-day moving average is $143.03 and its two-hundred day moving average is $126.84. The company has a market cap of $10.69 billion, a P/E ratio of 120.41 and a beta of 1.74.

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.