Wall Street Zen Upgrades MasTec (NYSE:MTZ) to Buy

MasTec (NYSE:MTZ) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other equities analysts have also recently weighed in on the stock. Mizuho set a $254.00 price target on shares of MasTec in a research report on Monday, November 3rd. Jefferies Financial Group raised their target price on MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Guggenheim reaffirmed a “neutral” rating and set a $215.00 target price on shares of MasTec in a research report on Wednesday, October 15th. KeyCorp reiterated an “overweight” rating and set a $264.00 price target on shares of MasTec in a report on Wednesday, January 7th. Finally, UBS Group raised their price objective on MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $238.16.

MasTec Stock Up 1.4%

Shares of NYSE MTZ opened at $245.30 on Friday. The company’s 50 day moving average price is $221.70 and its 200-day moving average price is $202.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. MasTec has a 52-week low of $99.70 and a 52-week high of $249.21. The company has a market capitalization of $19.35 billion, a P/E ratio of 58.27 and a beta of 1.91.

Insider Activity

In other news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares in the company, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its holdings in MasTec by 344.4% in the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after acquiring an additional 93 shares in 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 boosted its stake in 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 in the last quarter. Ameritas Advisory Services LLC purchased a new stake in MasTec during the 2nd quarter valued at about $35,000. Finally, Evelyn Partners Asset Management Ltd bought a new stake in MasTec during the 2nd quarter valued at about $43,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

About MasTec

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.