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.

A number of other research analysts also recently commented on the company. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Stifel Nicolaus upped their price target on shares of MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Cantor Fitzgerald initiated coverage on shares of MasTec in a report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 price objective on the stock. Robert W. Baird boosted their target price on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Truist Financial upped their target price on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $238.16.

MasTec Stock Performance

Shares of NYSE MTZ opened at $283.58 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $239.09 and its two-hundred day moving average price is $212.90. MasTec has a 52-week low of $99.70 and a 52-week high of $284.68. The stock has a market capitalization of $22.37 billion, a P/E ratio of 67.36 and a beta of 1.94.

Hedge Funds Weigh In On MasTec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Salomon & Ludwin LLC boosted its stake in MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after buying an additional 93 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of MasTec during the 4th quarter valued at about $30,000. Caldwell Trust Co bought a new position in shares of MasTec during the 2nd quarter valued at about $29,000. Parkside Financial Bank & Trust grew its stake in shares of 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 during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of MasTec in the 3rd quarter worth approximately $43,000. 78.10% of the stock is owned by 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.