MasTec (NYSE:MTZ) Price Target Raised to $163.00

MasTec (NYSE:MTZ - Get Free Report) had its target price hoisted by equities researchers at KeyCorp from $140.00 to $163.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. KeyCorp's price target suggests a potential upside of 13.25% from the stock's current price.

A number of other research firms also recently issued reports on MTZ. B. Riley reiterated a "buy" rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Robert W. Baird dropped their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Barclays raised their target price on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Stifel Nicolaus decreased their target price on MasTec from $175.00 to $143.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler began coverage on MasTec in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and an average target price of $152.53.

MasTec Trading Up 2.2 %

Shares of NYSE MTZ traded up $3.06 during midday trading on Monday, reaching $143.93. The stock had a trading volume of 240,076 shares, compared to its average volume of 933,842. MasTec has a twelve month low of $89.96 and a twelve month 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's 50 day moving average price is $120.52 and its 200 day moving average price is $132.68. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 128.50 and a beta of 1.71.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.13) EPS. As a group, sell-side analysts expect that MasTec will post 3.44 EPS for the current year.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.30% of the stock is owned by insiders.

Institutional Trading of MasTec

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System raised its stake in MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company's stock worth $4,398,000 after buying an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock valued at $3,880,000 after purchasing an additional 8,948 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock worth $2,433,000 after purchasing an additional 13,241 shares during the period. Merit Financial Group LLC bought a new position in MasTec in the fourth quarter worth $415,000. Finally, CWA Asset Management Group LLC bought a new position in MasTec in the fourth quarter worth $485,000. Hedge funds and other institutional investors 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.

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