MasTec (NYSE:MTZ) Downgraded to Buy Rating by Wall Street Zen

MasTec (NYSE:MTZ - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

Several other equities research analysts also recently commented on the company. KeyCorp upped their target price on MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Roth Capital initiated coverage on MasTec in a report on Tuesday. They set a "buy" rating and a $210.00 target price for the company. The Goldman Sachs Group raised MasTec from a "neutral" rating to a "buy" rating and upped their target price for the company from $156.00 to $195.00 in a report on Friday, June 6th. Citigroup upped their price target on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Jefferies Financial Group assumed coverage on MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $169.29.

MasTec Trading Up 1.5%

Shares of MasTec stock opened at $171.89 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of 63.19 and a beta of 1.75. The business has a fifty day simple moving average of $156.81 and a 200-day simple moving average of $140.00. MasTec has a fifty-two week low of $89.96 and a fifty-two week high of $173.24.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. On average, equities analysts forecast that MasTec will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the transaction, the director directly owned 39,782 shares of the company's stock, valued at $6,122,051.98. This represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Kera Capital Partners Inc. acquired a new position in MasTec in the 2nd quarter worth about $255,000. Voya Investment Management LLC increased its holdings in shares of MasTec by 33.1% during the 1st quarter. Voya Investment Management LLC now owns 46,446 shares of the construction company's stock valued at $5,421,000 after acquiring an additional 11,551 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in shares of MasTec by 10.3% during the 1st quarter. Hodges Capital Management Inc. now owns 27,753 shares of the construction company's stock valued at $3,239,000 after acquiring an additional 2,594 shares during the last quarter. Strs Ohio acquired a new position in shares of MasTec during the 1st quarter valued at about $1,082,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of MasTec by 15.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 764 shares of the construction company's stock valued at $89,000 after acquiring an additional 104 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.

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