MasTec (NYSE:MTZ) Price Target Cut to $140.00 by Analysts at KeyCorp

MasTec (NYSE:MTZ - Get Free Report) had its price target decreased by equities research analysts at KeyCorp from $168.00 to $140.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. KeyCorp's price target indicates a potential upside of 20.72% from the stock's previous close.

Several other research firms have also weighed in on MTZ. Wolfe Research began coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Citigroup increased their price target on shares of MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Barclays boosted their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Truist Financial reduced their price target on shares of MasTec from $197.00 to $154.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler initiated coverage on shares of MasTec in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price objective for the company. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $152.00.

MasTec Price Performance

NYSE:MTZ traded down $1.44 during mid-day trading on Wednesday, reaching $115.97. 1,013,145 shares of the company were exchanged, compared to its average volume of 936,199. MasTec has a 12 month low of $83.04 and a 12 month high of $166.95. The stock has a market cap of $9.17 billion, a PE ratio of 103.55 and a beta of 1.62. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average of $122.63 and a 200 day moving average of $132.79.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, research analysts anticipate that MasTec will post 3.44 EPS for the current fiscal year.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.30% of the company's stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec during the 3rd quarter worth about $25,000. Ameliora Wealth Management Ltd. acquired a new stake in MasTec during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after acquiring an additional 116 shares during the period. Colonial Trust Co SC grew its position in shares of MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Finally, Rothschild Investment LLC increased its stake in shares of MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after purchasing an additional 263 shares during the period. 78.10% of the stock is owned by 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.