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

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

Several other research firms have also commented on MTZ. Jefferies Financial Group lifted their price objective on shares of MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Mizuho set a $254.00 target price on shares of MasTec in a report on Monday, November 3rd. UBS Group upped their price target on shares of MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Barclays increased their price objective on shares of MasTec from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their target price on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $233.06.

MasTec Price Performance

Shares of MasTec stock opened at $242.06 on Friday. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 57.50 and a beta of 1.91. 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 stock has a 50 day moving average price of $216.02 and a 200-day moving average price of $199.38. MasTec has a one year low of $99.70 and a one year high of $249.21.

Insider Activity at MasTec

In other news, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTZ. Vanguard Group Inc. lifted its holdings in shares of MasTec by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,007,192 shares of the construction company’s stock worth $1,278,391,000 after buying an additional 34,899 shares during the period. Invesco Ltd. raised its holdings in shares of MasTec by 6.1% in the second quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock valued at $300,817,000 after acquiring an additional 102,072 shares in the last quarter. Hood River Capital Management LLC lifted its stake in MasTec by 8.9% in 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 acquiring an additional 138,269 shares during the period. AQR Capital Management LLC grew its holdings in MasTec by 11.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock worth $181,961,000 after acquiring an additional 108,504 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in MasTec by 52.1% during the 3rd quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock worth $217,529,000 after acquiring an additional 350,228 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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.