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

Wall Street Zen upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a research report released on Sunday morning.

Several other analysts have also recently commented on the stock. Zacks Research upgraded shares of MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Stifel Nicolaus raised their target price on shares of MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Barclays boosted their target price on shares of MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday. KeyCorp reaffirmed an “overweight” rating and set a $264.00 price target on shares of MasTec in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price objective on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $236.26.

MasTec Trading Down 1.2%

MasTec stock opened at $241.59 on Friday. The stock has a 50-day moving average price of $220.66 and a 200 day moving average price of $202.12. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 57.38 and a beta of 1.91. MasTec has a 52 week low of $99.70 and a 52 week high of $249.21. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the 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 transaction, the chief accounting officer owned 9,757 shares in the company, valued at $2,011,405.55. This trade represents a 16.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 21.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MasTec

A number of large investors have recently added to or reduced their stakes in MTZ. Salomon & Ludwin LLC increased its stake in shares of MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new stake in MasTec in the 2nd quarter worth about $29,000. Parkside Financial Bank & Trust increased its stake in MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after buying an additional 137 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of MasTec during the second quarter valued at approximately $35,000. Finally, Evelyn Partners Asset Management Ltd purchased a new position in shares of MasTec in the second quarter valued at approximately $43,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.