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

MasTec (NYSE:MTZ) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

A number of other equities analysts have also recently weighed in on the company. Citigroup lifted their price target on MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Mizuho set a $254.00 target price on shares of MasTec in a research report on Monday, November 3rd. KeyCorp restated an “overweight” rating and set a $264.00 price target on shares of MasTec in a report on Wednesday, January 7th. Truist Financial raised their price objective on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, MasTec presently has a consensus rating of “Buy” and an average 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 stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 67.36 and a beta of 1.94. The stock’s fifty day simple moving average is $239.09 and its 200 day simple moving average is $212.90. MasTec has a 52-week low of $99.70 and a 52-week high of $284.68.

Hedge Funds Weigh In On MasTec

Hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC grew its stake in MasTec by 344.4% in the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of MasTec during the 2nd quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of MasTec in the 4th quarter valued at approximately $30,000. Parkside Financial Bank & Trust increased its holdings 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 buying an additional 137 shares during the last quarter. Finally, Evelyn Partners Asset Management Ltd bought a new position in MasTec during the second quarter valued at approximately $43,000. 78.10% of the stock is 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.