MasTec (NYSE:MTZ) Price Target Raised to $205.00 at KeyCorp

MasTec (NYSE:MTZ) had its price objective increased by KeyCorp from $196.00 to $205.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

MTZ has been the subject of a number of other research reports. TD Cowen upped their price objective on MasTec from $175.00 to $195.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group upgraded MasTec from a “neutral” rating to a “buy” rating and upped their price objective for the company from $156.00 to $195.00 in a report on Friday, June 6th. Jefferies Financial Group initiated coverage on MasTec in a report on Friday, May 16th. They issued a “buy” rating and a $188.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Finally, Stifel Nicolaus upped their price objective on MasTec from $171.00 to $181.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec currently has an average rating of “Buy” and a consensus target price of $191.76.

MasTec Trading Up 2.2%

Shares of MTZ opened at $177.88 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. MasTec has a 12-month low of $89.96 and a 12-month high of $194.00. The firm has a market capitalization of $14.03 billion, a PE ratio of 52.63 and a beta of 1.83. The stock’s fifty day simple moving average is $169.52 and its 200-day simple moving average is $145.14.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.08. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. As a group, research analysts predict that MasTec will post 3.44 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. KBC Group NV boosted its position in shares of 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. boosted its position in shares of MasTec by 37.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company’s stock worth $1,915,000 after buying an additional 4,469 shares during the period. GAMMA Investing LLC boosted its position in shares of MasTec by 43.6% during the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company’s stock worth $107,000 after buying an additional 278 shares during the period. Sequoia Financial Advisors LLC boosted its position in MasTec by 33.5% during the first quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company’s stock valued at $263,000 after purchasing an additional 565 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in MasTec by 9.8% during 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 purchasing an additional 4,031 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.