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

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

A number of other equities analysts also recently commented on MTZ. Stifel Nicolaus lifted their price objective on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Mizuho set a $254.00 price target on shares of MasTec in a research report on Monday, November 3rd. Barclays upped their price objective on shares of MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, Robert W. Baird lifted their target price on shares of MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, MasTec currently has an average rating of “Buy” and an average price target of $238.16.

MasTec Trading Up 1.7%

MTZ opened at $269.88 on Friday. The firm has a market capitalization of $21.29 billion, a price-to-earnings ratio of 64.11 and a beta of 1.94. The company’s 50 day simple moving average is $234.33 and its two-hundred day simple moving average is $209.74. MasTec has a 1-year low of $99.70 and a 1-year high of $276.79. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30.

Institutional Trading of MasTec

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of MasTec by 92.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock worth $13,981,000 after buying an additional 31,218 shares during the period. Bridge City Capital LLC raised its stake in MasTec by 27.2% during the 2nd quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock valued at $8,412,000 after acquiring an additional 10,565 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in MasTec by 14.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,593 shares of the construction company’s stock worth $3,531,000 after acquiring an additional 2,158 shares during the period. Schroder Investment Management Group purchased a new position in shares of MasTec in the 2nd quarter valued at approximately $12,366,000. Finally, Marco Investment Management LLC increased its holdings in shares of MasTec by 28.2% in the third quarter. Marco Investment Management LLC now owns 31,605 shares of the construction company’s stock valued at $6,726,000 after purchasing an additional 6,955 shares during the period. Institutional investors and hedge funds 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.