MasTec (NYSE:MTZ) Cut to “Hold” at Wall Street Zen

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

A number of other equities analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Robert W. Baird lifted their target price on MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Citigroup increased their price target on MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Mizuho set a $254.00 price objective on shares of MasTec in a research note on Monday, November 3rd. Two 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. According to data from MarketBeat.com, MasTec presently has an average rating of “Buy” and a consensus target price of $238.16.

MasTec Stock Up 1.7%

Shares of NYSE:MTZ opened at $269.88 on Friday. The stock has a market cap of $21.29 billion, a P/E ratio of 64.11 and a beta of 1.94. The firm has a fifty day moving average price of $235.31 and a 200 day moving average price of $210.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. MasTec has a 1-year low of $99.70 and a 1-year high of $276.79.

Hedge Funds Weigh In On MasTec

Large investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in MasTec by 14.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,741 shares of the construction company’s stock worth $1,465,000 after buying an additional 861 shares in the last quarter. Venture Visionary Partners LLC lifted its position in shares of MasTec by 147.7% during the 4th quarter. Venture Visionary Partners LLC now owns 5,752 shares of the construction company’s stock valued at $1,250,000 after acquiring an additional 3,430 shares during the period. MML Investors Services LLC boosted its stake in shares of MasTec by 6.6% during the 4th quarter. MML Investors Services LLC now owns 40,984 shares of the construction company’s stock worth $8,909,000 after acquiring an additional 2,544 shares in the last quarter. Mariner LLC grew its holdings in shares of MasTec by 9.0% in the 4th quarter. Mariner LLC now owns 18,035 shares of the construction company’s stock worth $3,931,000 after acquiring an additional 1,488 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of MasTec by 26.0% in the 4th quarter. Focus Partners Wealth now owns 9,625 shares of the construction company’s stock worth $2,092,000 after acquiring an additional 1,987 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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.