MasTec (NYSE:MTZ) Sets New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MTZ shares. Robert W. Baird boosted their target price on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. began coverage on shares of MasTec in a report on Monday, October 7th. They set an “overweight” rating and a $153.00 price objective for the company. Citigroup lifted their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group boosted their target price on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, B. Riley reiterated a “buy” rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.07.

MasTec Stock Performance

The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 138.53 and a beta of 1.74. The stock has a 50 day moving average price of $141.17 and a two-hundred day moving average price of $123.78.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at approximately $26,746,507.26. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now owns 42,478 shares in the company, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,023 shares of company stock worth $4,515,089. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in MasTec by 15,067.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,365,638 shares of the construction company’s stock valued at $146,110,000 after acquiring an additional 1,356,634 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of MasTec in the second quarter valued at about $79,494,000. Hood River Capital Management LLC boosted its position in shares of MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of MasTec by 266.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after buying an additional 289,090 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after buying an additional 279,778 shares during the last quarter. 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.