MasTec (NYSE:MTZ) Hits New 12-Month High – What’s Next?

MasTec, Inc. (NYSE:MTZ) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $225.00 and last traded at $222.6670, with a volume of 92418 shares trading hands. The stock had previously closed at $219.52.

Analyst Ratings Changes

MTZ has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 1st. Stifel Nicolaus lifted their target price on shares of MasTec from $198.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Truist Financial raised their price target on MasTec from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Finally, Roth Capital upped their price objective on MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.44.

MasTec Stock Up 0.9%

The company has a 50-day moving average of $206.07 and a two-hundred day moving average of $186.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The company has a market capitalization of $17.48 billion, a PE ratio of 52.86 and a beta of 1.94.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the transaction, the chief operating officer directly owned 184,249 shares in the company, valued at $36,930,869.56. The trade was a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Timothy Michael Love sold 1,929 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the sale, the chief accounting officer owned 9,757 shares of the company’s stock, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,929 shares of company stock worth $3,394,013. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC boosted its position in shares of MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of MasTec in the second quarter worth about $29,000. Parkside Financial Bank & Trust lifted its position in shares of MasTec by 253.7% in the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after buying an additional 137 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in MasTec during the second quarter valued at approximately $35,000. Finally, Evelyn Partners Asset Management Ltd bought a new position in MasTec during the second quarter valued at approximately $43,000. 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.