KeyCorp Boosts 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 report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the company. DA Davidson restated a buy rating and set a $70.00 price objective on shares of MasTec in a research note on Monday, March 4th. Craig Hallum raised MasTec from a hold rating to a buy rating and increased their price objective for the company from $50.00 to $96.00 in a report on Monday, March 4th. Truist Financial reaffirmed a hold rating and set a $109.00 target price (up from $96.00) on shares of MasTec in a report on Monday. UBS Group lifted their price target on shares of MasTec from $89.00 to $92.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, TD Cowen lifted their price target on MasTec from $105.00 to $110.00 and gave the stock a buy rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $111.08.

MasTec Stock Performance

NYSE MTZ opened at $105.17 on Monday. The company has a market cap of $8.36 billion, a P/E ratio of -751.21 and a beta of 1.61. 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 business’s 50 day moving average price is $89.87 and its 200-day moving average price is $73.92. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Sell-side analysts predict that MasTec will post 2.33 earnings per share for the current year.

Hedge Funds Weigh In On MasTec

Several institutional investors and hedge funds have recently bought and sold shares of MTZ. Nordea Investment Management AB lifted its holdings in shares of MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after acquiring an additional 1,027,085 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of MasTec by 44,834.1% in the 3rd quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock worth $57,434,000 after acquiring an additional 796,253 shares during the last quarter. Norges Bank purchased a new stake in MasTec during the 4th quarter worth approximately $46,970,000. Point72 Asset Management L.P. increased 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 worth $77,439,000 after buying an additional 502,039 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased 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 worth $25,848,000 after buying an additional 354,163 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.