KeyCorp Cuts MasTec (NYSE:MTZ) Price Target to $140.00

MasTec (NYSE:MTZ) had its price target decreased by KeyCorp from $168.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

A number of other analysts have also recently weighed in on MTZ. Truist Financial decreased their target price on shares of MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. increased their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Piper Sandler initiated coverage on MasTec in a report on Tuesday, April 8th. They issued an “overweight” rating and a $134.00 target price on the stock. Robert W. Baird cut their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Wolfe Research initiated coverage on MasTec in a research report on Monday, March 31st. They set a “peer perform” rating for the company. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.00.

MasTec Stock Performance

MTZ opened at $115.97 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a market capitalization of $9.17 billion, a PE ratio of 103.55 and a beta of 1.62. The business has a fifty day simple moving average of $122.63 and a 200 day simple moving average of $132.79. MasTec has a 1 year low of $83.04 and a 1 year high of $166.95.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Research analysts expect that MasTec will post 3.44 EPS for the current year.

Insider Activity

In other news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Community Trust & Investment Co. raised its holdings in MasTec by 1.1% during the 1st quarter. Community Trust & Investment Co. now owns 162,918 shares of the construction company’s stock valued at $19,014,000 after buying an additional 1,825 shares during the last quarter. Brighton Jones LLC increased its stake in MasTec by 8.3% during the 1st quarter. Brighton Jones LLC now owns 1,803 shares of the construction company’s stock valued at $210,000 after purchasing an additional 138 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in MasTec by 56.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 28,034 shares of the construction company’s stock valued at $3,272,000 after purchasing an additional 10,163 shares during the last quarter. Ritholtz Wealth Management lifted its stake in MasTec by 108.1% during the 1st quarter. Ritholtz Wealth Management now owns 3,673 shares of the construction company’s stock valued at $429,000 after acquiring an additional 1,908 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its stake in MasTec by 1.4% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,580 shares of the construction company’s stock valued at $1,585,000 after buying an additional 185 shares during the last quarter. 78.10% of the stock is currently 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.