MasTec (NYSE:MTZ) PT Raised to $113.00 at KeyCorp

MasTec (NYSE:MTZ) had its price objective upped by KeyCorp from $104.00 to $113.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective indicates a potential upside of 6.94% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. UBS Group lifted their price objective on MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Robert W. Baird upped their price target on shares of MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial reiterated a “hold” rating and issued a $109.00 price target (up from $96.00) on shares of MasTec in a research report on Monday. Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $96.00 in a research report on Monday, March 4th. Finally, TD Cowen increased their target price on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.08.

MasTec Stock Performance

Shares of MTZ stock opened at $105.67 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of $89.26 and a 200-day simple moving average of $73.70. The company has a market cap of $8.40 billion, a price-to-earnings ratio of -754.79 and a beta of 1.61. MasTec has a 12-month low of $44.65 and a 12-month high of $123.33.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.19%. On average, equities analysts forecast that MasTec will post 2.33 EPS for the current year.

Hedge Funds Weigh In On MasTec

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after acquiring an additional 33,592 shares during the last quarter. Nordea Investment Management AB grew its holdings in MasTec by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after purchasing an additional 1,027,085 shares during the period. Allspring Global Investments Holdings LLC increased its position in MasTec by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock worth $263,271,000 after purchasing an additional 17,369 shares during the last quarter. Electron Capital Partners LLC raised its stake in MasTec by 16.1% during the fourth quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after purchasing an additional 238,874 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.