MasTec (NYSE:MTZ) Given New $113.00 Price Target at KeyCorp

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

Several other equities analysts have also commented on MTZ. DA Davidson reaffirmed a buy rating and set a $70.00 price target on shares of MasTec in a research report on Monday, March 4th. UBS Group upped their price target on shares of MasTec from $89.00 to $92.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Robert W. Baird upped their price target on shares of MasTec from $89.00 to $110.00 and gave the stock a neutral rating in a research report on Monday. Citigroup upped their price target on shares of MasTec from $99.00 to $104.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group upped their price target on shares of MasTec from $54.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, February 9th. 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, MasTec currently has an average rating of Moderate Buy and an average target price of $111.08.

MasTec Stock Performance

NYSE:MTZ opened at $105.55 on Monday. The firm has a 50 day simple moving average of $90.47 and a 200-day simple moving average of $74.14. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The firm has a market cap of $8.39 billion, a PE ratio of -753.93 and a beta of 1.61. MasTec has a 1-year low of $44.65 and a 1-year high of $123.33.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. On average, equities analysts expect that MasTec will post 2.33 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MTZ. Nordea Investment Management AB boosted its stake in shares of MasTec by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after purchasing an additional 1,027,085 shares during the period. CI Investments Inc. boosted its stake in MasTec by 44,834.1% during the 3rd quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock valued at $57,434,000 after acquiring an additional 796,253 shares during the last quarter. Norges Bank bought a new position in MasTec during the 4th quarter valued at $46,970,000. Point72 Asset Management L.P. boosted its stake in MasTec by 96.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after acquiring an additional 502,039 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in MasTec by 7,110.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock valued at $25,848,000 after acquiring an additional 354,163 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.