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

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

A number of other analysts have also weighed in on MTZ. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Robert W. Baird upped their price target on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Citigroup increased their price objective on MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Barclays boosted their target price on MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, Truist Financial raised their price target on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Two research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Trading Up 1.7%

Shares of MTZ opened at $269.88 on Friday. The business’s 50-day moving average price is $234.33 and its 200-day moving average price is $209.59. MasTec has a twelve month low of $99.70 and a twelve month high of $276.79. The stock has a market cap of $21.29 billion, a PE ratio of 64.11 and a beta of 1.94. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Institutional Investors Weigh In On MasTec

Hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its position 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 acquiring an additional 93 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of MasTec during the 4th quarter valued at $30,000. Caldwell Trust Co purchased a new position in MasTec in the 2nd quarter worth $29,000. Parkside Financial Bank & Trust lifted its stake in MasTec by 253.7% in the second 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 MasTec in the third quarter worth $43,000. Institutional investors own 78.10% of the company’s stock.

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.