MasTec (NYSE:MTZ) Sets New 12-Month High – Here’s Why

MasTec, Inc. (NYSE:MTZ)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $152.84 and last traded at $151.68, with a volume of 472151 shares traded. The stock had previously closed at $144.07.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MTZ shares. The Goldman Sachs Group increased their price objective on MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup raised their price target on MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Craig Hallum raised their price target on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. UBS Group raised their price target on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus raised their price target on MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.07.

MasTec Stock Performance

The stock has a 50 day simple moving average of $140.36 and a two-hundred day simple moving average of $123.04. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 135.16 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at $28,080,300. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,023 shares of company stock valued at $4,515,089. 21.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. American Century Companies Inc. raised its stake in MasTec by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 15,557 shares of the construction company’s stock valued at $1,664,000 after acquiring an additional 1,777 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MasTec during the 2nd quarter worth approximately $40,000. Envestnet Asset Management Inc. raised its stake in shares of MasTec by 169.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,703 shares of the construction company’s stock worth $2,322,000 after buying an additional 13,656 shares in the last quarter. Amalgamated Bank raised its stake in shares of MasTec by 2.8% during the 2nd quarter. Amalgamated Bank now owns 37,771 shares of the construction company’s stock worth $4,041,000 after buying an additional 1,030 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of MasTec by 12.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,170 shares of the construction company’s stock worth $553,000 after buying an additional 582 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other 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.