KeyCorp Boosts MasTec (NYSE:MTZ) Price Target to $145.00

MasTec (NYSE:MTZ) had its price objective increased by KeyCorp from $123.00 to $145.00 in a research note published on Tuesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. DA Davidson boosted their price objective on MasTec from $120.00 to $125.00 and gave the company a buy rating in a research report on Monday, August 5th. B. Riley boosted their price target on shares of MasTec from $132.00 to $134.00 and gave the stock a buy rating in a report on Monday, August 5th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a report on Monday. They set an overweight rating and a $153.00 price objective on the stock. Citigroup boosted their target price on shares of MasTec from $118.00 to $122.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Finally, Stifel Nicolaus upped their price target on shares of MasTec from $120.00 to $121.00 and gave the stock a buy rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $127.62.

MasTec Stock Performance

Shares of NYSE MTZ opened at $126.75 on Tuesday. The company has a market capitalization of $10.04 billion, a PE ratio of 1,408.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The company’s fifty day moving average price is $113.87 and its 200 day moving average price is $106.01. MasTec has a 1 year low of $44.65 and a 1 year high of $130.22.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts predict that MasTec will post 2.69 earnings per share for the current year.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the transaction, the chief operating officer now owns 217,202 shares of the company’s stock, valued at $27,426,096.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock worth $2,978,212 in the last three months. 21.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new position in MasTec during the 2nd quarter worth about $27,000. Quarry LP purchased a new stake in MasTec during the fourth quarter worth about $37,000. GAMMA Investing LLC lifted its position in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec in the second quarter valued at approximately $40,000. Finally, UMB Bank n.a. grew its holdings in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.