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

MasTec (NYSE:MTZ) had its price target raised by KeyCorp from $153.00 to $168.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target suggests a potential upside of 14.86% from the company’s previous close.

MTZ has been the topic of several other reports. JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. B. Riley restated a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. UBS Group upped their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Guggenheim initiated coverage on shares of MasTec in a research note on Wednesday. They set a “buy” rating and a $195.00 price objective for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, MasTec has an average rating of “Moderate Buy” and an average price target of $155.07.

MasTec Trading Down 0.1 %

Shares of NYSE:MTZ traded down $0.15 on Wednesday, reaching $146.26. 591,074 shares of the company traded hands, compared to its average volume of 859,983. The stock has a market capitalization of $11.59 billion, a P/E ratio of 130.59 and a beta of 1.74. The business’s 50-day simple moving average is $138.82 and its 200 day simple moving average is $122.01. 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 52 week low of $60.96 and a 52 week high of $150.55.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. The trade was a 6.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the transaction, the chief operating officer now directly owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,023 shares of company stock valued at $4,515,089. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several hedge funds have recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB purchased a new position in shares of MasTec in the 3rd quarter worth about $25,000. DekaBank Deutsche Girozentrale purchased a new stake in MasTec during the 2nd quarter valued at about $40,000. UMB Bank n.a. increased its stake in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. True Wealth Design LLC purchased a new position in MasTec in the third quarter worth about $57,000. Finally, GAMMA Investing LLC lifted its stake in shares of MasTec by 39.9% in the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $63,000 after buying an additional 146 shares in the last quarter. 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.