MasTec (NYSE:MTZ) Downgraded by Wall Street Zen to Hold

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

Other analysts also recently issued reports about the company. Guggenheim reissued a “neutral” rating and issued a $215.00 target price on shares of MasTec in a report on Wednesday, October 15th. KeyCorp reaffirmed an “overweight” rating and set a $264.00 price target on shares of MasTec in a research report on Wednesday, January 7th. Roth Capital boosted their price objective on MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Stifel Nicolaus increased their price objective on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, Barclays raised their target price on shares of MasTec from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Buy” and an average target price of $233.06.

MasTec Price Performance

Shares of NYSE:MTZ opened at $242.06 on Friday. MasTec has a 12 month low of $99.70 and a 12 month high of $249.21. The firm has a market capitalization 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 current ratio of 1.33 and a quick ratio of 1.30. The company’s fifty day moving average price is $216.02 and its 200 day moving average price is $199.17.

Insider Activity

In other 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 value of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in MasTec by 4.9% during 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 last quarter. Crestwood Advisors Group LLC increased its stake in shares of MasTec by 3.1% during the third quarter. Crestwood Advisors Group LLC now owns 1,738 shares of the construction company’s stock worth $370,000 after acquiring an additional 53 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of MasTec by 0.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 14,882 shares of the construction company’s stock worth $3,461,000 after acquiring an additional 54 shares during the period. Integrated Wealth Concepts LLC raised its holdings in MasTec by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 4,081 shares of the construction company’s stock worth $868,000 after purchasing an additional 55 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in MasTec by 22.5% in the second quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock valued at $58,000 after purchasing an additional 62 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.