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

MasTec (NYSE:MTZ - Get Free Report) had its price target lowered by analysts at KeyCorp from $168.00 to $140.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the construction company's stock. KeyCorp's target price indicates a potential upside of 26.16% from the stock's previous close.

MTZ has been the topic of several other research reports. Robert W. Baird decreased their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. B. Riley reiterated a "buy" rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Guggenheim reissued a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research note on Tuesday, March 25th. Finally, Piper Sandler began coverage on MasTec in a research note on Tuesday, April 8th. They set an "overweight" rating and a $134.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $152.00.

MasTec Price Performance

Shares of MTZ traded down $5.39 during mid-day trading on Wednesday, hitting $110.97. 204,993 shares of the stock were exchanged, compared to its average volume of 934,366. The firm has a 50-day moving average of $122.14 and a two-hundred day moving average of $132.85. MasTec has a 52-week low of $83.04 and a 52-week high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market cap of $8.77 billion, a PE ratio of 99.08 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 0.73% and a return on equity of 8.27%. On average, equities analysts predict that MasTec will post 3.44 earnings per share for the current year.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in MasTec by 18.1% in the third quarter. FMR LLC now owns 3,382 shares of the construction company's stock worth $416,000 after purchasing an additional 518 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of MasTec by 9.8% during the 3rd quarter. HighTower Advisors LLC now owns 3,511 shares of the construction company's stock worth $433,000 after acquiring an additional 312 shares in the last quarter. Stifel Financial Corp lifted its position in MasTec by 2.8% during the third quarter. Stifel Financial Corp now owns 10,105 shares of the construction company's stock valued at $1,244,000 after acquiring an additional 271 shares during the last quarter. Barclays PLC boosted its stake in MasTec by 642.7% in the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after acquiring an additional 209,472 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in MasTec by 5.4% in the third quarter. M&T Bank Corp now owns 3,614 shares of the construction company's stock worth $445,000 after purchasing an additional 184 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other 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.