MasTec (NYSE:MTZ) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of MasTec (NYSE:MTZ) to a strong-buy rating in a research report released on Friday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on MTZ. Robert W. Baird boosted their price target on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Citigroup lifted their target price on MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Stifel Nicolaus boosted their target price on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen downgraded MasTec from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Barclays lifted their price target on MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $236.26.

MasTec Trading Down 1.2%

Shares of MasTec stock opened at $241.59 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $220.66 and a 200-day simple moving average of $201.66. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of 57.38 and a beta of 1.91. MasTec has a 12-month low of $99.70 and a 12-month high of $249.21.

Insider Transactions at MasTec

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MTZ. Salomon & Ludwin LLC grew its position in MasTec by 344.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Caldwell Trust Co acquired a new stake in shares of MasTec in the 2nd quarter worth $29,000. Parkside Financial Bank & Trust lifted its stake in shares of MasTec by 253.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after acquiring an additional 137 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of MasTec in the second quarter valued at about $35,000. Finally, Evelyn Partners Asset Management Ltd acquired a new position in shares of MasTec during the second quarter worth about $43,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.