MasTec (NYSE:MTZ) Given New $214.00 Price Target at JPMorgan Chase & Co.

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

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus increased their target price on shares of MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Citigroup increased their price target on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen downgraded shares of MasTec from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Jefferies Financial Group started coverage on shares of MasTec in a research note on Friday, May 16th. They issued a "buy" rating and a $188.00 target price on the stock. Finally, Guggenheim reaffirmed a "buy" rating and issued a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $176.94.

MasTec Stock Up 4.7%

Shares of MasTec stock traded up $8.24 during trading on Tuesday, reaching $182.13. 1,237,402 shares of the company traded hands, compared to its average volume of 945,418. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. MasTec has a 1-year low of $89.96 and a 1-year high of $182.45. The company has a 50 day moving average price of $164.33 and a 200-day moving average price of $142.98. The firm has a market capitalization of $14.37 billion, a PE ratio of 66.96 and a beta of 1.75.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The business's revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts expect that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the chief operating officer owned 194,249 shares in the company, valued at $33,993,575. This represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director owned 39,782 shares in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. KBC Group NV boosted its stake in MasTec by 10.6% during the first quarter. KBC Group NV now owns 2,773 shares of the construction company's stock worth $324,000 after buying an additional 266 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MasTec by 37.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock valued at $1,915,000 after acquiring an additional 4,469 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock valued at $107,000 after acquiring an additional 278 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of MasTec by 33.5% in the first quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company's stock valued at $263,000 after acquiring an additional 565 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of MasTec by 9.8% in the first quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company's stock valued at $5,253,000 after acquiring an additional 4,031 shares in the last quarter. 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.