MasTec (NYSE:MTZ) Upgraded to Buy at Wall Street Zen

MasTec (NYSE:MTZ) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Several other equities research analysts have also recently issued reports on MTZ. Truist Financial lifted their target price on MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. UBS Group raised their price target on MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Barclays lifted their price objective on MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group increased their target price on MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a research report 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 company’s stock. According to data from MarketBeat, MasTec presently has an average rating of “Buy” and a consensus price target of $236.26.

MasTec Stock Performance

MTZ opened at $241.59 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of 57.38 and a beta of 1.91. The company has a fifty day moving average of $220.66 and a 200 day moving average of $201.89. MasTec has a fifty-two week low of $99.70 and a fifty-two week high of $249.21.

Insider Activity

In other MasTec news, CAO Timothy Michael Love sold 1,929 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 9,757 shares in the company, valued at $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Several hedge funds have recently bought and sold shares of the business. Brighton Jones LLC bought a new stake in shares of MasTec during the fourth quarter worth $227,000. NewEdge Advisors LLC grew its holdings in shares of MasTec by 32.6% in the first quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock worth $514,000 after purchasing an additional 1,083 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in MasTec in the 2nd quarter worth about $271,000. Wealth Enhancement Advisory Services LLC lifted its holdings in MasTec by 23.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,742 shares of the construction company’s stock valued at $2,534,000 after buying an additional 2,823 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in MasTec by 228.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after buying an additional 192 shares in the last quarter. 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.