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

MasTec (NYSE:MTZ) had its price target reduced by KeyCorp from $168.00 to $140.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. B. Riley restated a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Wolfe Research initiated coverage on shares of MasTec in a report on Monday, March 31st. They set a “peer perform” rating on the stock. Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus cut their target price on MasTec from $175.00 to $143.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.00.

MasTec Stock Performance

MTZ stock opened at $117.41 on Wednesday. The firm has a 50 day simple moving average of $123.20 and a 200 day simple moving average of $132.84. MasTec has a 52 week low of $82.29 and a 52 week high of $166.95. The stock has a market cap of $9.31 billion, a P/E ratio of 104.83 and a beta of 1.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Research analysts anticipate that MasTec will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction dated 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 directly owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several institutional investors have recently modified their holdings of MTZ. Ritholtz Wealth Management lifted its position in MasTec by 108.1% in the first quarter. Ritholtz Wealth Management now owns 3,673 shares of the construction company’s stock worth $429,000 after purchasing an additional 1,908 shares during the period. NorthCrest Asset Manangement LLC raised its stake in shares of MasTec by 1.4% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 13,580 shares of the construction company’s stock valued at $1,585,000 after buying an additional 185 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of MasTec during the 1st quarter worth about $321,000. Fifth Third Bancorp boosted its position in shares of MasTec by 21.8% during the 1st quarter. Fifth Third Bancorp now owns 704 shares of the construction company’s stock valued at $82,000 after acquiring an additional 126 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in MasTec by 31.7% in the first quarter. Assenagon Asset Management S.A. now owns 245,231 shares of the construction company’s stock valued at $28,621,000 after acquiring an additional 59,056 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.