Truist Financial Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

MasTec (NYSE:MTZ - Free Report) had its target price boosted by Truist Financial from $173.00 to $189.00 in a report released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company's stock.

MTZ has been the subject of a number of other research reports. Citigroup boosted their target price on MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Craig Hallum increased their target price on shares of MasTec from $125.00 to $150.00 and gave the company a "buy" rating in a report on Monday, November 4th. TD Cowen boosted their price target 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. Finally, Stifel Nicolaus upped their price target on shares of MasTec from $153.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $150.23.

MasTec Price Performance

MTZ traded up $1.36 during trading on Thursday, reaching $132.07. The stock had a trading volume of 737,502 shares, compared to its average volume of 854,352. The business has a 50-day moving average of $134.95 and a 200-day moving average of $119.01. MasTec has a one year low of $60.96 and a one year high of $150.12. 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 stock has a market cap of $10.46 billion, a PE ratio of 117.92 and a beta of 1.72.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,823 shares of company stock worth $7,144,521 in the last 90 days. Company insiders own 21.30% of the company's stock.

Institutional Trading of MasTec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in MasTec during the third quarter valued at $25,000. DekaBank Deutsche Girozentrale purchased a new position in MasTec during the 2nd quarter valued at about $40,000. UMB Bank n.a. lifted its position in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after acquiring an additional 120 shares during the period. True Wealth Design LLC bought a new stake in MasTec during the third quarter worth about $57,000. Finally, Blue Trust Inc. increased its stake in shares of MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock valued at $60,000 after purchasing an additional 138 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.