MasTec (NYSE:MTZ) Stock Price Expected to Rise, Craig Hallum Analyst Says

MasTec (NYSE:MTZ - Get Free Report) had its price objective boosted by Craig Hallum from $125.00 to $150.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Craig Hallum's target price points to a potential upside of 13.11% from the company's current price.

A number of other analysts have also commented on MTZ. B. Riley boosted their price target 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. Stifel Nicolaus boosted their target price on shares of MasTec from $121.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. 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 research report on Wednesday, October 23rd. 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 report on Wednesday, October 9th. Finally, TD Cowen lifted their target price on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, MasTec presently has a consensus rating of "Moderate Buy" and an average price target of $143.08.

MasTec Trading Up 2.0 %

Shares of NYSE:MTZ traded up $2.61 during mid-day trading on Monday, hitting $132.61. The company had a trading volume of 1,120,493 shares, compared to its average volume of 853,084. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. MasTec has a one year low of $46.70 and a one year high of $138.87. The firm has a fifty day moving average price of $119.20 and a 200 day moving average price of $110.03. The company has a market capitalization of $10.51 billion, a PE ratio of 118.05 and a beta of 1.70.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.09. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a net margin of 0.73% and a return on equity of 8.35%. The business's revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, research analysts forecast that MasTec will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 800 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now directly owns 216,402 shares of the company's stock, valued at $28,140,916.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Robert E. Apple sold 800 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the transaction, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the 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 transaction, the director now directly owns 48,173 shares of the company's stock, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,800 shares of company stock valued at $2,978,212. Company insiders own 21.30% of the company's stock.

Institutional Investors Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. increased its stake in shares of MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company's stock worth $146,110,000 after purchasing an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. bought a new position in MasTec in the 2nd quarter worth approximately $79,494,000. Hood River Capital Management LLC grew its stake in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company's stock valued at $127,773,000 after buying an additional 446,762 shares in the last quarter. AQR Capital Management LLC raised its holdings in MasTec by 3,439.7% during the 2nd quarter. AQR Capital Management LLC now owns 262,504 shares of the construction company's stock valued at $28,085,000 after acquiring an additional 255,088 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company's stock worth $34,613,000 after acquiring an additional 190,320 shares in the last quarter. 78.10% of the stock is currently owned by 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.