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

MasTec (NYSE:MTZ) had its price target reduced by investment analysts at KeyCorp from $168.00 to $140.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective points to a potential upside of 20.72% from the company’s current price.

MTZ has been the subject of several other research reports. Piper Sandler assumed coverage on MasTec in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $134.00 price target for the company. Robert W. Baird cut their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Citigroup increased their target price on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Truist Financial cut their price target on shares of MasTec from $197.00 to $154.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Stifel Nicolaus decreased their price objective on shares of MasTec from $175.00 to $143.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $152.00.

MasTec Stock Down 1.2 %

Shares of MTZ stock opened at $115.97 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec has a twelve month low of $82.29 and a twelve month high of $166.95. The stock has a 50 day moving average of $122.63 and a 200 day moving average of $132.79. The stock has a market cap of $9.17 billion, a P/E ratio of 103.55 and a beta of 1.62.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. 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 MasTec stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MasTec

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of MasTec by 18.1% during the 3rd quarter. FMR LLC now owns 3,382 shares of the construction company’s stock worth $416,000 after buying an additional 518 shares during the last quarter. HighTower Advisors LLC increased its stake in MasTec by 9.8% during the third quarter. HighTower Advisors LLC now owns 3,511 shares of the construction company’s stock worth $433,000 after acquiring an additional 312 shares during the last quarter. Stifel Financial Corp raised its position in MasTec by 2.8% in the third quarter. Stifel Financial Corp now owns 10,105 shares of the construction company’s stock valued at $1,244,000 after purchasing an additional 271 shares during the period. Barclays PLC lifted its stake in shares of MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after purchasing an additional 209,472 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of MasTec by 5.4% during the 3rd 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 period. 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.