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

Key Points

• KeyCorp raised its price target for MasTec from $196.00 to $205.00, indicating a potential upside of 15.57% from its current stock price.
• MasTec's stock has received multiple positive ratings, with 15 buy ratings and an average target price of $185.82, highlighting strong investor confidence in the company.
• The company reported a quarterly earnings per share (EPS) of $1.49, surpassing estimates and showcasing a significant 19.7% revenue increase compared to the same quarter last year.

MasTec (NYSE:MTZ - Get Free Report) had its target price hoisted by KeyCorp from $196.00 to $205.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. KeyCorp's target price would suggest a potential upside of 15.57% from the stock's current price.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group raised shares of MasTec from a "neutral" rating to a "buy" rating and increased their target price for the stock from $156.00 to $195.00 in a research report on Friday, June 6th. TD Cowen lifted their target price on MasTec from $175.00 to $195.00 and gave the company a "buy" rating in a research note on Monday. JPMorgan Chase & Co. increased their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Piper Sandler upped their price target on MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Roth Capital initiated coverage on shares of MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, MasTec presently has an average rating of "Buy" and an average target price of $185.82.

MasTec Trading Up 1.9%

Shares of MTZ traded up $3.33 during mid-day trading on Monday, reaching $177.38. 463,701 shares of the company were exchanged, compared to its average volume of 1,052,944. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The stock has a market capitalization of $14.00 billion, a PE ratio of 52.36 and a beta of 1.83. The business has a 50 day simple moving average of $169.01 and a two-hundred day simple moving average of $144.98. MasTec has a 52 week low of $89.96 and a 52 week high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.08. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. MasTec's revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. On average, analysts predict that MasTec will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently bought and sold shares of the business. Colonial Trust Co SC raised its stake in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in MasTec in the 2nd quarter worth approximately $35,000. Rothschild Investment LLC grew its position in shares of MasTec by 2,023.1% in the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after purchasing an additional 263 shares during the period. Farther Finance Advisors LLC increased its stake in shares of MasTec by 228.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company's stock valued at $47,000 after acquiring an additional 192 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in MasTec during the second quarter worth approximately $49,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.

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