KeyCorp Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

MasTec (NYSE:MTZ) had its price target boosted by investment analysts at KeyCorp from $153.00 to $168.00 in a 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 14.86% from the stock’s previous close.

MTZ has been the subject of a number of other research reports. B. Riley restated a “buy” rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. TD Cowen increased their price target on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Guggenheim assumed coverage on shares of MasTec in a report on Wednesday. They set a “buy” rating and a $195.00 price objective for the company. Craig Hallum boosted their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.07.

MasTec Stock Performance

Shares of NYSE MTZ traded down $0.15 during midday trading on Wednesday, reaching $146.26. The company’s stock had a trading volume of 591,074 shares, compared to its average volume of 859,983. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market capitalization of $11.59 billion, a P/E ratio of 130.59 and a beta of 1.74. The firm has a 50 day moving average price of $138.82 and a 200-day moving average price of $122.01. MasTec has a 12-month low of $60.96 and a 12-month high of $150.55.

Insider Activity

In other MasTec news, COO Robert E. Apple sold 19,023 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the sale, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 32,023 shares of company stock worth $4,515,089. 21.30% of the stock is owned by corporate insiders.

Institutional Trading of MasTec

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