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

Wall Street Zen upgraded shares of MasTec (NYSE:MTZ) from a hold rating to a buy rating in a research note published on Sunday.

MTZ has been the subject of a number of other research reports. Citigroup boosted their price target 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. Zacks Research upgraded shares of MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Truist Financial increased their target price on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Robert W. Baird lifted their price target on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Barclays increased their price objective on MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $238.16.

MasTec Price Performance

Shares of NYSE MTZ opened at $283.58 on Friday. The stock’s 50-day simple moving average is $239.09 and its two-hundred day simple moving average is $213.11. MasTec has a twelve month low of $99.70 and a twelve month high of $284.68. The firm has a market capitalization of $22.37 billion, a P/E ratio of 67.36 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 Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Mcguire Capital Advisors Inc. bought a new position in MasTec in the fourth quarter worth about $175,000. Corient Private Wealth LLC grew its holdings in shares of MasTec by 231.5% during the 4th quarter. Corient Private Wealth LLC now owns 7,335 shares of the construction company’s stock worth $1,594,000 after acquiring an additional 5,122 shares during the period. EP Wealth Advisors LLC bought a new position in shares of MasTec in the 4th quarter worth approximately $441,000. NewEdge Advisors LLC lifted its stake in shares of MasTec by 51.0% in the 4th quarter. NewEdge Advisors LLC now owns 3,417 shares of the construction company’s stock valued at $743,000 after purchasing an additional 1,154 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of MasTec during the fourth quarter valued at approximately $491,000. 78.10% of the stock is currently owned by institutional investors.

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.