MasTec (NYSE:MTZ) Upgraded at Zacks Research

Zacks Research upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Roth Capital raised their target price on MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Robert W. Baird upped their target price on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Wolfe Research upgraded shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Wednesday, September 17th. Barclays upped their price objective on MasTec from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Citigroup lifted their target price on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $232.06.

MasTec Stock Down 1.3%

MasTec stock opened at $217.41 on Tuesday. The company has a market capitalization of $17.15 billion, a PE ratio of 51.64 and a beta of 1.91. 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 fifty-two week low of $99.70 and a fifty-two week high of $233.14. The firm has a 50 day moving average price of $210.95 and a 200 day moving average price of $194.40.

Insider Buying and Selling

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the sale, the chief accounting officer directly owned 9,757 shares in the company, valued at $2,011,405.55. This trade 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 this hyperlink. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC increased 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 acquiring an additional 93 shares during the period. Caldwell Trust Co purchased a new position in shares of MasTec in the 2nd quarter valued at approximately $29,000. Parkside Financial Bank & Trust increased its holdings in shares of MasTec by 253.7% in the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after purchasing an additional 137 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of MasTec in the second quarter valued at approximately $35,000. Finally, Evelyn Partners Asset Management Ltd purchased a new stake in shares of MasTec during the second quarter worth approximately $43,000. 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.