MasTec (NYSE:MTZ) Given New $113.00 Price Target at KeyCorp

MasTec (NYSE:MTZ) had its target price boosted by KeyCorp from $104.00 to $113.00 in a research report released on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

MTZ has been the subject of a number of other reports. Citigroup raised their target price on shares of MasTec from $99.00 to $104.00 and gave the company a buy rating in a report on Monday, April 22nd. Robert W. Baird boosted their target price on shares of MasTec from $89.00 to $110.00 and gave the stock a neutral rating in a report on Monday. The Goldman Sachs Group lifted their price target on MasTec from $54.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Craig Hallum upgraded MasTec from a hold rating to a buy rating and lifted their target price for the stock from $50.00 to $96.00 in a report on Monday, March 4th. Finally, TD Cowen increased their price target 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $107.23.

MasTec Stock Up 0.2 %

MTZ opened at $106.03 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $88.63 and a 200 day moving average of $73.39. MasTec has a fifty-two week low of $44.65 and a fifty-two week high of $123.33.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. As a group, sell-side analysts forecast that MasTec will post 2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of MasTec by 10.0% during the first quarter. SG Americas Securities LLC now owns 6,801 shares of the construction company’s stock valued at $634,000 after buying an additional 619 shares during the period. Kayne Anderson Capital Advisors LP purchased a new position in MasTec during the 1st quarter valued at about $843,000. Texas Permanent School Fund Corp raised its holdings in shares of MasTec by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 52,806 shares of the construction company’s stock valued at $4,924,000 after purchasing an additional 817 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of MasTec in the 1st quarter valued at about $231,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of MasTec in the 1st quarter worth approximately $463,000. 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.