MasTec (NYSE:MTZ) Stock Price Expected to Rise, KeyCorp Analyst Says

MasTec (NYSE:MTZ) had its price target hoisted by equities research analysts at KeyCorp from $153.00 to $168.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price points to a potential upside of 14.50% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Stifel Nicolaus boosted their price target on MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. began coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Guggenheim assumed coverage on MasTec in a research report on Wednesday. They issued a “buy” rating and a $195.00 target price on the stock. Finally, Citigroup increased their target price on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.07.

MasTec Stock Up 0.2 %

Shares of NYSE MTZ opened at $146.72 on Wednesday. The stock has a fifty day moving average price of $139.36 and a 200 day moving average price of $122.18. 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 12-month low of $60.96 and a 12-month high of $150.55. The company has a market cap of $11.63 billion, a P/E ratio of 131.00 and a beta of 1.74.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 42,478 shares in the company, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now owns 187,202 shares in the company, valued at approximately $28,080,300. The trade was a 5.07 % 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 worth $4,515,089. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. lifted its position in shares of MasTec by 15,067.0% in the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after purchasing an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. acquired a new position in MasTec in the 2nd quarter valued at approximately $79,494,000. Hood River Capital Management LLC lifted its position in MasTec by 59.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after buying an additional 289,090 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares in the last quarter. 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.