KeyCorp Boosts MasTec (NYSE:MTZ) Price Target to $168.00

MasTec (NYSE:MTZ) had its target price hoisted by KeyCorp from $153.00 to $168.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

MTZ has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on shares of MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Craig Hallum increased their price target on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup raised their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial increased their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.07.

MasTec Trading Up 0.2 %

MTZ opened at $146.72 on Wednesday. The firm has a market capitalization of $11.63 billion, a P/E ratio of 131.00 and a beta of 1.74. The firm’s 50 day moving average is $138.82 and its 200-day moving average is $122.01. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec has a 52-week low of $60.96 and a 52-week high of $150.55.

Insider Buying and Selling at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the transaction, the chief operating officer now owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,023 shares of company stock worth $4,515,089 over the last ninety days. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. Pacer Advisors Inc. lifted its holdings in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after purchasing an additional 895,227 shares during the period. State Street Corp raised its position in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after buying an additional 24,522 shares in the last quarter. Hood River Capital Management LLC lifted its stake in shares of MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after acquiring an additional 446,762 shares during the period. Geode Capital Management LLC boosted its holdings in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after acquiring an additional 16,844 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.