KeyCorp Boosts MasTec (NYSE:MTZ) Price Target to $113.00

MasTec (NYSE:MTZ) had its price target lifted by equities researchers at KeyCorp from $104.00 to $113.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective suggests a potential upside of 6.94% from the company’s current price.

A number of other equities research analysts have also recently weighed in on MTZ. Citigroup increased their price target on MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Robert W. Baird lifted their target price on shares of MasTec from $89.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday. The Goldman Sachs Group raised their price objective on shares of MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. TD Cowen increased their target price on MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Finally, DA Davidson restated a “buy” rating and issued a $70.00 price target on shares of MasTec in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.08.

MasTec Stock Performance

Shares of MTZ opened at $105.67 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a 50-day moving average of $89.26 and a 200-day moving average of $73.70. The company has a market cap of $8.40 billion, a PE ratio of -754.79 and a beta of 1.61. MasTec has a one year low of $44.65 and a one year high of $123.33.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. As a group, equities analysts forecast that MasTec will post 2.33 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates raised its stake in MasTec by 2.3% during the third quarter. Raymond James & Associates now owns 86,771 shares of the construction company’s stock worth $6,245,000 after acquiring an additional 1,912 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MasTec by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 537,773 shares of the construction company’s stock worth $38,704,000 after buying an additional 5,059 shares in the last quarter. Castleview Partners LLC lifted its stake in shares of MasTec by 1,250.0% in the 3rd quarter. Castleview Partners LLC now owns 1,350 shares of the construction company’s stock valued at $97,000 after acquiring an additional 1,250 shares during the last quarter. Strs Ohio boosted its holdings in shares of MasTec by 30.1% during the 3rd quarter. Strs Ohio now owns 17,859 shares of the construction company’s stock valued at $1,285,000 after acquiring an additional 4,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in MasTec by 9.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 415,190 shares of the construction company’s stock worth $29,881,000 after purchasing an additional 35,997 shares in the last quarter. 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.