MasTec (NYSE:MTZ) Rating Lowered to Hold at Wall Street Zen

MasTec (NYSE:MTZ) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of MasTec in a research report on Friday, January 23rd. They set an “overweight” rating and a $274.00 target price on the stock. Barclays increased their price target on MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Robert W. Baird boosted their price objective on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Finally, Stifel Nicolaus raised their target price on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Price Performance

MTZ opened at $269.88 on Friday. The firm’s fifty day moving average price is $234.33 and its two-hundred day moving average price is $209.59. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 64.11 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. MasTec has a 1 year low of $99.70 and a 1 year high of $276.79.

Institutional Investors Weigh In On MasTec

Several large investors have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its holdings in MasTec by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,927 shares of the construction company’s stock valued at $636,000 after purchasing an additional 43 shares during the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of MasTec by 3.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,311 shares of the construction company’s stock valued at $285,000 after buying an additional 47 shares in the last quarter. Versant Capital Management Inc boosted its holdings in MasTec by 4.9% in the 3rd quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock worth $232,000 after buying an additional 51 shares during the period. Williamson Legacy Group LLC grew its stake in MasTec by 0.9% in the 4th quarter. Williamson Legacy Group LLC now owns 5,961 shares of the construction company’s stock valued at $1,296,000 after buying an additional 52 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in MasTec by 5.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 943 shares of the construction company’s stock valued at $205,000 after acquiring an additional 52 shares during the period. 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.