MasTec (NYSE:MTZ) Price Target Raised to $160.00 at TD Cowen

MasTec (NYSE:MTZ) had its price objective hoisted by investment analysts at TD Cowen from $115.00 to $160.00 in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the construction company’s stock. TD Cowen’s price target points to a potential upside of 17.09% from the company’s previous close.

Several other research firms also recently issued reports on MTZ. Citigroup lifted their price target on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. started coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. B. Riley lifted their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. 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 research report on Monday. Finally, The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

MasTec Stock Up 3.0 %

MasTec stock opened at $136.65 on Monday. The stock has a market capitalization of $10.83 billion, a PE ratio of 122.01 and a beta of 1.70. MasTec has a twelve month low of $46.70 and a twelve month high of $139.39. The company has a 50 day moving average of $120.16 and a 200-day moving average of $110.75. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the transaction, the director now owns 48,173 shares in the company, valued at approximately $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total value of $104,032.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position 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 valued at $146,110,000 after purchasing an additional 1,356,634 shares during the last quarter. Hood River Capital Management LLC boosted 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 purchasing an additional 446,762 shares during the period. D1 Capital Partners L.P. acquired a new position in MasTec in the 2nd quarter valued at $79,494,000. Marshall Wace LLP increased its position in MasTec by 4.3% during the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock worth $76,828,000 after buying an additional 29,631 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of MasTec by 6.3% during the third quarter. Vontobel Holding Ltd. now owns 531,393 shares of the construction company’s stock worth $65,414,000 after buying an additional 31,266 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

About MasTec

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.