MasTec (NYSE:MTZ) Reaches New 1-Year High – Still a Buy?

Shares of MasTec, Inc. (NYSE:MTZ) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $129.49 and last traded at $127.35, with a volume of 49027 shares traded. The stock had previously closed at $125.66.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTZ. Truist Financial restated a “hold” rating and issued a $112.00 price target (up from $109.00) on shares of MasTec in a research report on Monday, August 5th. Citigroup increased their target price on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. DA Davidson upped their price objective on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. B. Riley increased their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus raised their price objective on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.50.

MasTec Stock Down 0.1 %

The company’s fifty day moving average is $111.86 and its 200-day moving average is $104.62. The company has a market capitalization of $9.98 billion, a PE ratio of -897.57 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $0.81 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that MasTec, Inc. will post 2.71 EPS for the current fiscal year.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. 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 is available through this link. In related news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction of $348,780.00. Following the completion of the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Hedge funds have recently made changes to their positions in the stock. Electron Capital Partners LLC raised its stake in MasTec by 16.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after acquiring an additional 238,874 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in MasTec by 15,067.0% during the second quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock worth $146,110,000 after buying an additional 1,356,634 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of MasTec by 42.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of MasTec by 96.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares during the last quarter. Hedge funds and other institutional investors 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.