MasTec (NYSE:MTZ) Hits New 52-Week High at $113.14

MasTec, Inc. (NYSE:MTZ)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $113.14 and last traded at $113.05, with a volume of 397761 shares changing hands. The stock had previously closed at $110.80.

Analysts Set New Price Targets

MTZ has been the topic of a number of analyst reports. DA Davidson lifted their price objective on shares of MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Truist Financial reissued a “hold” rating and issued a $112.00 price objective (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. Stifel Nicolaus lifted their target price on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. TD Cowen increased their price target on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Barclays lifted their price objective on MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

MasTec Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.27 and a current ratio of 1.31. The firm has a market cap of $8.99 billion, a P/E ratio of -802.64 and a beta of 1.65. The firm has a fifty day moving average of $106.64 and a 200-day moving average of $96.11.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.44%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts forecast that MasTec, Inc. will post 2.59 earnings per share for the current year.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 50,725 shares in the company, valued at approximately $5,579,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in MasTec by 6,849.8% during the 4th quarter. International Assets Investment Management LLC now owns 79,506 shares of the construction company’s stock valued at $6,020,000 after purchasing an additional 78,362 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in MasTec in the 4th quarter valued at about $1,287,000. CWM LLC boosted its position in shares of MasTec by 59.4% during the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after purchasing an additional 312 shares in the last quarter. Cetera Trust Company N.A acquired a new position in shares of MasTec in the 4th quarter worth approximately $160,000. Finally, Sycomore Asset Management bought a new stake in shares of MasTec in the 4th quarter worth approximately $965,000. 78.10% of the stock is currently owned by institutional investors.

MasTec Company Profile

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.