Brokerages Set MasTec, Inc. (NYSE:MTZ) PT at $238.16

Shares of MasTec, Inc. (NYSE:MTZ) have been given an average rating of “Buy” by the twenty-one research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $238.1579.

A number of brokerages have recently issued reports on MTZ. Stifel Nicolaus boosted their target price on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Citigroup boosted their price objective on shares of MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Cantor Fitzgerald started coverage on shares of MasTec in a research report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Finally, Barclays upped their price target on shares of MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd.

MasTec Trading Down 0.9%

Shares of MTZ opened at $285.17 on Monday. MasTec has a twelve month low of $99.70 and a twelve month high of $290.73. The firm has a market capitalization of $22.50 billion, a P/E ratio of 67.74 and a beta of 1.94. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $243.15 and its 200 day simple moving average is $215.02.

Hedge Funds Weigh In On MasTec

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC grew its position 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 acquiring an additional 93 shares in the last quarter. Caldwell Trust Co purchased a new position in shares of MasTec in the second quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in MasTec during the 4th quarter valued at $30,000. 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 during the period. Finally, Evelyn Partners Asset Management Ltd acquired a new position in MasTec in the 2nd quarter worth $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.