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

MasTec (NYSE:MTZ) had its price objective boosted by investment analysts at KeyCorp from $153.00 to $168.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective would suggest a potential upside of 14.50% from the stock’s previous close.

Several other research firms have also weighed in on MTZ. Stifel Nicolaus raised their target price on MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird boosted their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group increased their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial boosted their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.07.

MasTec Stock Performance

MTZ stock opened at $146.72 on Wednesday. The firm has a 50 day moving average of $139.36 and a two-hundred day moving average of $122.18. MasTec has a 12 month low of $60.96 and a 12 month high of $150.55. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 131.00 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the firm’s 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 directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction 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. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,023 shares of company stock worth $4,515,089. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec during the 3rd quarter worth about $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec during the second quarter worth approximately $40,000. UMB Bank n.a. increased its holdings in shares of MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares in the last quarter. True Wealth Design LLC bought a new position in shares of MasTec in the third quarter valued at approximately $57,000. Finally, GAMMA Investing LLC boosted its holdings in shares of MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $63,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.