MasTec (NYSE:MTZ) Given New $267.00 Price Target at Stifel Nicolaus

MasTec (NYSE:MTZ) had its target price lifted by equities researchers at Stifel Nicolaus from $240.00 to $267.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 23.09% from the company’s current price.

Other equities analysts have also issued reports about the stock. Barclays lifted their target price on shares of MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Citigroup lifted their price objective on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Wolfe Research upgraded shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Wednesday, September 17th. Guggenheim reissued a “neutral” rating and set a $215.00 target price on shares of MasTec in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price target on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and a consensus target price of $231.11.

MasTec Stock Performance

MasTec stock traded down $3.46 during midday trading on Tuesday, hitting $216.92. 239,565 shares of the company were exchanged, compared to its average volume of 998,402. The business has a fifty day simple moving average of $207.22 and a two-hundred day simple moving average of $189.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The firm has a market capitalization of $17.11 billion, a PE ratio of 51.61 and a beta of 1.94. MasTec has a fifty-two week low of $99.70 and a fifty-two week high of $233.14.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the transaction, the chief operating officer owned 184,249 shares in the company, valued at $36,930,869.56. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the completion of the transaction, the director directly owned 33,277 shares in the company, valued at $7,001,148.03. This represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,929 shares of company stock valued at $2,822,843 over the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC boosted its position in shares of MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of MasTec in the second quarter valued at approximately $29,000. Parkside Financial Bank & Trust lifted its holdings in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after buying an additional 137 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in MasTec during the 2nd quarter worth approximately $35,000. Finally, Evelyn Partners Asset Management Ltd purchased a new position in MasTec in the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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.