MasTec (NYSE:MTZ) Upgraded 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 issued to investors on Sunday.

Other equities analysts also recently issued reports about the company. Citigroup upped their price target on MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. KeyCorp restated an “overweight” rating and set a $264.00 price target on shares of MasTec in a research note on Wednesday, January 7th. Finally, Truist Financial increased their price objective on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. 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’s stock. According to data from MarketBeat, MasTec has an average rating of “Buy” and a consensus target price of $238.16.

MasTec Stock Up 3.4%

NYSE:MTZ opened at $288.08 on Friday. MasTec has a fifty-two week low of $99.70 and a fifty-two week high of $290.60. The stock has a market capitalization of $22.73 billion, a P/E ratio of 68.43 and a beta of 1.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The company’s 50-day simple moving average is $241.62 and its 200-day simple moving average is $214.53.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,007,192 shares of the construction company’s stock worth $1,278,391,000 after purchasing an additional 34,899 shares during the period. Victory Capital Management Inc. grew its stake in shares of MasTec by 178.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock worth $573,304,000 after purchasing an additional 1,690,896 shares during the period. Invesco Ltd. lifted its stake in shares of MasTec by 6.1% in the 2nd quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock valued at $300,817,000 after purchasing an additional 102,072 shares during the period. Hood River Capital Management LLC boosted its holdings in MasTec by 8.9% during the second quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after buying an additional 138,269 shares in the last quarter. Finally, Peconic Partners LLC grew its position in MasTec by 113.3% during the fourth quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock valued at $347,792,000 after buying an additional 850,000 shares during the period. Hedge funds and other institutional investors 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.