MasTec (NYSE:MTZ) Given New $75.00 Price Target at KeyCorp

MasTec (NYSE:MTZ) had its price objective lifted by KeyCorp from $65.00 to $75.00 in a research report sent to investors on Wednesday morning, AnalystRatings.com reports. KeyCorp currently has an overweight rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on the company. Deutsche Bank lifted their price objective on MasTec from $60.00 to $67.00 and gave the company a buy rating in a research report on Monday, August 5th. B. Riley lifted their price objective on MasTec from $62.00 to $72.00 and gave the company a buy rating in a research report on Monday, August 5th. Barclays lifted their price objective on MasTec from $60.00 to $70.00 and gave the company an overweight rating in a research report on Wednesday, September 4th. DA Davidson lifted their price objective on MasTec to $70.00 and gave the company a buy rating in a research report on Monday, August 5th. Finally, ValuEngine cut MasTec from a hold rating to a sell rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $68.00.

NYSE:MTZ traded down $2.40 on Wednesday, hitting $65.28. The stock had a trading volume of 1,326,972 shares, compared to its average volume of 820,017. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 17.93 and a beta of 1.34. The company has a quick ratio of 1.44, a current ratio of 1.53 and a debt-to-equity ratio of 0.92. The business’s 50-day simple moving average is $64.84 and its two-hundred day simple moving average is $55.44. MasTec has a 52-week low of $37.24 and a 52-week high of $68.93.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.51. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.80 billion. MasTec had a return on equity of 23.43% and a net margin of 4.29%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share. As a group, equities research analysts anticipate that MasTec will post 4.9 EPS for the current year.

In related news, COO Robert E. Apple sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $60.05, for a total value of $1,501,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director C Robert Campbell sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.72, for a total value of $288,600.00. Following the completion of the transaction, the director now directly owns 67,001 shares in the company, valued at $3,867,297.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,000 shares of company stock worth $1,983,440. Insiders own 22.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of MasTec by 3,576.7% during the 1st quarter. FMR LLC now owns 1,999,733 shares of the construction company’s stock worth $96,187,000 after buying an additional 1,945,344 shares during the last quarter. WINTON GROUP Ltd bought a new position in MasTec during the second quarter worth about $266,000. First National Bank of Omaha increased its position in MasTec by 27.1% during the second quarter. First National Bank of Omaha now owns 100,218 shares of the construction company’s stock worth $5,165,000 after acquiring an additional 21,382 shares during the period. Tributary Capital Management LLC increased its position in MasTec by 4.3% during the second quarter. Tributary Capital Management LLC now owns 39,000 shares of the construction company’s stock worth $2,010,000 after acquiring an additional 1,600 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new position in MasTec during the second quarter worth about $366,000. 82.25% of the stock is currently 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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Analyst Recommendations for MasTec (NYSE:MTZ)

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