MasTec (NYSE:MTZ) Upgraded by Zacks Research to Strong-Buy Rating

MasTec (NYSE:MTZ) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. UBS Group upped 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a research report on Monday. Jefferies Financial Group increased their target price on MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. KeyCorp boosted their target price on shares of MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen cut shares of MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $232.06.

MasTec Price Performance

MTZ stock opened at $217.41 on Tuesday. The stock has a market cap of $17.15 billion, a PE ratio of 51.64 and a beta of 1.94. MasTec has a 12 month low of $99.70 and a 12 month high of $233.14. The company has a 50-day moving average price of $210.70 and a 200 day moving average price of $194.24. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction 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 owned 9,757 shares in the company, valued at $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a 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

Several large investors have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in shares of MasTec by 4.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock worth $232,000 after purchasing an additional 51 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in MasTec by 3.1% in the third quarter. Crestwood Advisors Group LLC now owns 1,738 shares of the construction company’s stock worth $370,000 after purchasing an additional 53 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of MasTec by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 4,081 shares of the construction company’s stock valued at $868,000 after buying an additional 55 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of MasTec by 22.5% in the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock valued at $58,000 after buying an additional 62 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after buying an additional 82 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

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.