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

Wall Street Zen cut shares of MasTec (NYSE:MTZ) from a buy rating to a hold rating in a report issued on Saturday.

Other research analysts have also recently issued research reports about the stock. Roth Capital upped their target price on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. KeyCorp restated an “overweight” rating and issued a $264.00 price objective on shares of MasTec in a research note on Wednesday, January 7th. UBS Group lifted their target price on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Citigroup lifted their price target on MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Three equities research 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’s stock. According to data from MarketBeat.com, MasTec has a consensus rating of “Buy” and an average price target of $233.06.

MasTec Trading Up 2.6%

NYSE:MTZ opened at $242.06 on Friday. MasTec has a 1 year low of $99.70 and a 1 year high of $249.21. The stock has a market cap of $19.10 billion, a P/E ratio of 57.50 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. The stock has a 50-day simple moving average of $216.84 and a 200-day simple moving average of $200.09.

Insider Buying and Selling at MasTec

In related news, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total value of $397,663.35. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 21.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MasTec

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,007,192 shares of the construction company’s stock worth $1,278,391,000 after purchasing an additional 34,899 shares during the period. Invesco Ltd. boosted its stake in shares of MasTec by 6.1% in the second quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock valued at $300,817,000 after buying an additional 102,072 shares in the last quarter. Hood River Capital Management LLC grew its holdings in MasTec by 8.9% during the second quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after acquiring an additional 138,269 shares during the period. AQR Capital Management LLC raised its position in MasTec by 11.3% in the second quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock worth $181,961,000 after acquiring an additional 108,504 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in MasTec by 52.1% in the third quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock valued at $217,529,000 after acquiring an additional 350,228 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.