JPMorgan Chase & Co. Increases MasTec (NYSE:MTZ) Price Target to $214.00

MasTec (NYSE:MTZ - Free Report) had its target price upped by JPMorgan Chase & Co. from $180.00 to $214.00 in a research note published on Tuesday morning, MarketBeat reports. The firm currently has an overweight rating on the construction company's stock.

A number of other research analysts also recently commented on the company. Truist Financial boosted their price target on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, May 5th. KeyCorp reaffirmed an "overweight" rating and issued a $196.00 target price (up previously from $171.00) on shares of MasTec in a report on Wednesday, July 16th. The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and lifted their price target for the company from $156.00 to $195.00 in a research note on Friday, June 6th. Wall Street Zen lowered MasTec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Wolfe Research initiated coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $176.94.

MasTec Stock Performance

Shares of MasTec stock traded down $0.77 on Tuesday, hitting $181.62. The stock had a trading volume of 436,386 shares, compared to its average volume of 1,034,793. The business's 50 day moving average is $164.82 and its two-hundred day moving average is $143.25. MasTec has a twelve month low of $89.96 and a twelve month high of $182.94. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 66.77 and a beta of 1.75. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.17. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) EPS. Analysts forecast that MasTec will post 3.44 EPS for the current year.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the sale, the chief operating officer directly owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the sale, the director directly owned 39,782 shares of the company's stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently modified their holdings of MTZ. Colonial Trust Co SC grew its position in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after acquiring an additional 141 shares during the period. Rothschild Investment LLC increased its stake in shares of MasTec by 2,023.1% in the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of MasTec in the first quarter worth about $35,000. Ameritas Advisory Services LLC purchased a new stake in shares of MasTec during the second quarter worth $35,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of MasTec by 147.1% during the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

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.