Craig Hallum Issues Positive Forecast for MasTec (NYSE:MTZ) Stock Price

by · The Cerbat Gem

MasTec (NYSE:MTZ – Free Report) had its price target boosted by Craig Hallum from $125.00 to $150.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities analysts have also issued reports on MTZ. UBS Group boosted their target price on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus boosted their target price on MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird upped their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, DA Davidson upped their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Check Out Our Latest Analysis on MasTec

MasTec Price Performance

MasTec stock opened at $141.63 on Monday. The firm has a market capitalization of $11.22 billion, a P/E ratio of 126.46 and a beta of 1.70. MasTec has a 1 year low of $47.02 and a 1 year high of $144.15. The business has a 50-day moving average of $121.40 and a 200-day moving average of $111.17. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This trade 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 can be accessed through this link. In other news, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction dated 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 directly owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares of the company’s stock, valued at $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 three months, insiders sold 42,823 shares of company stock worth $5,558,301. 21.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MasTec

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new stake in MasTec during the first quarter worth approximately $785,000. Swedbank AB acquired a new stake in MasTec during the first quarter worth approximately $5,287,000. Interval Partners LP acquired a new stake in MasTec during the first quarter worth approximately $4,230,000. Boston Partners acquired a new stake in MasTec during the first quarter worth approximately $748,000. Finally, Texas Permanent School Fund Corp grew its stake in MasTec by 8.9% during the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock worth $6,154,000 after purchasing an additional 4,716 shares during the period. 78.10% of the stock is currently owned by institutional investors.

MasTec Company Profile

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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.

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