MasTec (MTZ) PT Raised to $65.00

MasTec (NYSE:MTZ) had its price target raised by KeyCorp from $60.00 to $65.00 in a report released on Monday, May 6th, The Fly reports. KeyCorp currently has an overweight rating on the construction company’s stock.

Several other brokerages have also commented on MTZ. Barclays reaffirmed a buy rating and issued a $57.00 price target on shares of MasTec in a research note on Wednesday, March 13th. ValuEngine raised MasTec from a sell rating to a hold rating in a research note on Thursday, January 10th. Zacks Investment Research raised MasTec from a hold rating to a buy rating and set a $56.00 price target on the stock in a research note on Monday, April 8th. Robert W. Baird reissued a hold rating and issued a $49.00 price objective on shares of MasTec in a research note on Monday, January 7th. Finally, DA Davidson reduced their price objective on MasTec to $57.00 and set a buy rating on the stock in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. MasTec presently has an average rating of Buy and an average price target of $60.11.

Shares of NYSE:MTZ traded down $1.05 during trading on Monday, hitting $46.49. 531,169 shares of the stock were exchanged, compared to its average volume of 861,769. MasTec has a 1-year low of $37.24 and a 1-year high of $54.70. The firm has a market capitalization of $3.60 billion, a PE ratio of 12.77, a PEG ratio of 1.32 and a beta of 1.43. The company has a current ratio of 1.79, a quick ratio of 1.70 and a debt-to-equity ratio of 1.18.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 28th. The construction company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. MasTec had a return on equity of 21.31% and a net margin of 3.93%. On average, sell-side analysts predict that MasTec will post 4.41 EPS for the current year.

In other MasTec news, Director Robert J. Dwyer sold 10,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $51.66, for a total value of $516,600.00. Following the transaction, the director now owns 23,587 shares of the company’s stock, valued at $1,218,504.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. raised its position in shares of MasTec by 4.6% during the fourth quarter. Macquarie Group Ltd. now owns 3,787,941 shares of the construction company’s stock worth $153,639,000 after acquiring an additional 167,974 shares during the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in shares of MasTec during the fourth quarter worth $217,000. Metropolitan Life Insurance Co. NY raised its position in shares of MasTec by 692.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 36,619 shares of the construction company’s stock worth $1,485,000 after acquiring an additional 31,998 shares during the last quarter. Retirement Systems of Alabama bought a new stake in shares of MasTec during the fourth quarter worth $7,453,000. Finally, Foresters Investment Management Company Inc. raised its position in shares of MasTec by 22.9% during the fourth quarter. Foresters Investment Management Company Inc. now owns 188,300 shares of the construction company’s stock worth $7,637,000 after acquiring an additional 35,100 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors.

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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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