KeyCorp Issues Positive Forecast for MasTec (NYSE:MTZ) Stock Price

MasTec (NYSE:MTZ) had its target price boosted by KeyCorp from $140.00 to $163.00 in a research report report published on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird cut their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Piper Sandler began coverage on MasTec in a research note on Tuesday, April 8th. They set an “overweight” rating and a $134.00 price objective for the company. Wolfe Research initiated coverage on MasTec in a research report on Monday, March 31st. They issued a “peer perform” rating on the stock. Truist Financial dropped their price target on MasTec from $197.00 to $154.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus reduced their price objective on MasTec from $175.00 to $143.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.33.

MasTec Stock Performance

NYSE MTZ opened at $143.58 on Monday. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 128.20 and a beta of 1.71. The stock has a 50-day moving average of $120.74 and a 200 day moving average of $132.79. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a twelve month low of $89.96 and a twelve month high of $166.95.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.17. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the firm posted ($0.13) EPS. The business’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that MasTec will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was 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. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec in the 3rd quarter valued at approximately $25,000. Ameliora Wealth Management Ltd. purchased a new stake in MasTec in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 141 shares during the period. Finally, Rothschild Investment LLC boosted its position in shares of MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock worth $32,000 after buying an additional 263 shares during the period. 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.