MasTec (NYSE:MTZ) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a research note published on Sunday morning.

Several other equities analysts have also recently issued reports on the company. UBS Group boosted their target price on MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Cantor Fitzgerald initiated coverage on shares of MasTec in a report on Friday. They issued an “overweight” rating and a $274.00 price target on the stock. KeyCorp restated an “overweight” rating and issued a $264.00 price objective on shares of MasTec in a report on Wednesday, January 7th. Guggenheim reaffirmed a “neutral” rating and set a $215.00 target price on shares of MasTec in a research note on Wednesday, October 15th. Finally, Citigroup boosted their price target on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $238.16.

MasTec Stock Up 1.3%

NYSE MTZ opened at $248.47 on Friday. MasTec has a 1 year low of $99.70 and a 1 year high of $250.99. The stock has a market capitalization of $19.60 billion, a PE ratio of 59.02 and a beta of 1.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The business’s 50-day moving average is $222.76 and its 200 day moving average is $203.21.

Insiders Place Their Bets

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the transaction, the chief accounting officer owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. Salomon & Ludwin LLC raised its stake in MasTec by 344.4% during the third 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 purchased a new position in shares of MasTec in the 2nd quarter worth about $29,000. Parkside Financial Bank & Trust raised its position 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 purchasing an additional 137 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in MasTec in the 3rd quarter worth about $43,000. Finally, Ameritas Advisory Services LLC purchased a new stake in MasTec during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors 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.