KeyCorp Raises MasTec (NYSE:MTZ) Price Target to $246.00

MasTec (NYSE:MTZ) had its price target lifted by KeyCorp from $236.00 to $246.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective points to a potential upside of 25.58% from the company’s current price.

MTZ has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their target price on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Roth Capital raised their target price on MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MasTec in a report on Wednesday, October 8th. Barclays raised their target price on MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Mizuho set a $254.00 target price on MasTec in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $229.44.

MasTec Stock Down 2.8%

Shares of MTZ stock opened at $195.89 on Monday. The stock’s 50 day simple moving average is $200.22 and its 200 day simple moving average is $176.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. MasTec has a twelve month low of $99.70 and a twelve month high of $224.03. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 57.96 and a beta of 1.82.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, October 30th. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.17. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The company’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. As a group, research analysts predict that MasTec will post 3.44 EPS for the current year.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the sale, the chief operating officer owned 184,249 shares of the company’s stock, valued at approximately $36,930,869.56. This trade represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of MasTec stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the sale, the director directly owned 33,277 shares in the company, valued at $7,001,148.03. The trade was a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,000 shares of company stock worth $2,996,350 in the last three months. 21.30% of the stock is owned by insiders.

Institutional Trading of MasTec

Several institutional investors have recently bought and sold shares of MTZ. Goldman Sachs Group Inc. boosted its stake in MasTec by 163.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock valued at $121,843,000 after buying an additional 648,184 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in MasTec by 370.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 506,857 shares of the construction company’s stock valued at $86,384,000 after buying an additional 399,007 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in MasTec by 171.2% in the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company’s stock valued at $45,607,000 after buying an additional 246,666 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in MasTec in the 3rd quarter valued at $50,904,000. Finally, Vanguard Group Inc. boosted its stake in MasTec by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock valued at $1,017,858,000 after buying an additional 234,594 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.