MasTec (NYSE:MTZ) Reaches New 1-Year High – What’s Next?

MasTec, Inc. (NYSE:MTZ)’s share price reached a new 52-week high on Friday . The company traded as high as $134.99 and last traded at $134.99, with a volume of 1094 shares traded. The stock had previously closed at $122.89.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MTZ. Truist Financial lifted their target price on MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. B. Riley raised their price objective on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. began coverage on MasTec in a research report on Monday, October 7th. They set an “overweight” rating and a $153.00 price target on the stock. Citigroup upped their target price on shares of MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, 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 report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.00.

MasTec Stock Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27. The company’s 50 day simple moving average is $119.20 and its 200 day simple moving average is $109.67. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of 1,444.44 and a beta of 1.70.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts anticipate that MasTec, Inc. will post 2.69 earnings per share for the current year.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $130.04, for a total value of $104,032.00. Following the completion of the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,800 shares of company stock valued at $2,978,212 in the last quarter. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MasTec

Institutional investors have recently modified their holdings of the business. Hobbs Group Advisors LLC bought a new position in shares of MasTec in the 2nd quarter worth $27,000. DekaBank Deutsche Girozentrale bought a new position in MasTec during the second quarter worth about $40,000. GAMMA Investing LLC grew its position in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after buying an additional 144 shares during the period. UMB Bank n.a. increased its stake in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.