KeyCorp Increases MasTec (NYSE:MTZ) Price Target to $113.00

MasTec (NYSE:MTZ) had its price objective raised by KeyCorp from $104.00 to $113.00 in a research note released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Several other brokerages have also issued reports on MTZ. Robert W. Baird lifted their price target on MasTec from $89.00 to $110.00 and gave the stock a neutral rating in a research note on Monday. Barclays boosted their price target on MasTec from $55.00 to $106.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Craig Hallum upgraded MasTec from a hold rating to a buy rating and upped their target price for the stock from $50.00 to $96.00 in a report on Monday, March 4th. Truist Financial restated a hold rating and issued a $109.00 price target (up previously from $96.00) on shares of MasTec in a research note on Monday. Finally, TD Cowen increased their target price on MasTec from $105.00 to $110.00 and gave the company a buy rating in a research note on Monday. Three 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.com, the company presently has a consensus rating of Moderate Buy and an average target price of $111.08.

MasTec Price Performance

Shares of NYSE MTZ opened at $105.17 on Monday. The stock has a market cap of $8.36 billion, a PE ratio of -751.21 and a beta of 1.61. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The stock has a fifty day moving average of $89.87 and a 200-day moving average of $73.92.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Equities research analysts anticipate that MasTec will post 2.33 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in MasTec during the fourth quarter valued at about $37,000. Headlands Technologies LLC bought a new stake in MasTec during the third quarter worth approximately $41,000. Itau Unibanco Holding S.A. bought a new stake in MasTec during the third quarter worth approximately $43,000. CWM LLC boosted its position in shares of MasTec by 59.4% during the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after buying an additional 312 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of MasTec by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 897 shares of the construction company’s stock valued at $68,000 after buying an additional 212 shares during the period. 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.