MasTec (MTZ) Cut to Hold at ValuEngine

ValuEngine downgraded shares of MasTec (NYSE:MTZ) from a buy rating to a hold rating in a research report released on Tuesday.

Other analysts also recently issued reports about the company. Canaccord Genuity restated a buy rating and set a $65.00 target price on shares of MasTec in a research note on Thursday, March 1st. B. Riley raised their target price on MasTec from $70.00 to $71.00 and gave the company a buy rating in a research note on Thursday, March 1st. Craig Hallum restated a buy rating and set a $69.00 target price (up from $64.00) on shares of MasTec in a research note on Thursday, March 1st. DA Davidson raised their target price on MasTec to $65.00 and gave the company a buy rating in a research note on Thursday, March 1st. Finally, Citigroup raised their target price on MasTec from $62.00 to $68.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $60.87.

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Shares of MasTec (NYSE:MTZ) opened at $45.20 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.84 and a current ratio of 1.92. The firm has a market capitalization of $3,896.91, a PE ratio of 17.17, a PEG ratio of 1.00 and a beta of 1.48. MasTec has a 52 week low of $36.40 and a 52 week high of $55.53.

In related news, Director Julia L. Johnson sold 29,607 shares of MasTec stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $51.11, for a total value of $1,513,213.77. Following the completion of the transaction, the director now directly owns 72,921 shares in the company, valued at $3,726,992.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 25,000 shares of MasTec stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $55.07, for a total value of $1,376,750.00. The disclosure for this sale can be found here. Insiders sold 69,607 shares of company stock valued at $3,633,214 over the last quarter. Insiders own 20.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MasTec by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock worth $166,000 after purchasing an additional 1,175 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in MasTec by 81.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock worth $128,000 after purchasing an additional 1,179 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in MasTec by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 51,280 shares of the construction company’s stock worth $2,510,000 after purchasing an additional 1,369 shares in the last quarter. US Bancorp DE grew its stake in MasTec by 3.3% in the fourth quarter. US Bancorp DE now owns 48,852 shares of the construction company’s stock worth $2,391,000 after purchasing an additional 1,558 shares in the last quarter. Finally, Columbia Partners L L C Investment Management grew its stake in MasTec by 2.5% in the fourth quarter. Columbia Partners L L C Investment Management now owns 66,759 shares of the construction company’s stock worth $3,267,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.

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About MasTec

MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MasTec (NYSE:MTZ)

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