MasTec (NYSE:MTZ) Reaches New 12-Month High – Here’s What Happened

MasTec, Inc. (NYSE:MTZ) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $158.88 and last traded at $156.91, with a volume of 50481 shares. The stock had previously closed at $155.00.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Robert W. Baird upped their price objective on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. UBS Group lifted their target price on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. initiated coverage on MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Finally, Guggenheim initiated coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective on the stock. 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, MasTec has a consensus rating of “Moderate Buy” and an average price target of $157.21.

MasTec Stock Performance

The firm has a market capitalization of $12.61 billion, a PE ratio of 142.05 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The business’s fifty day simple moving average is $142.40 and its 200-day simple moving average is $125.48.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,023 shares of company stock valued at $4,515,089. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MasTec

Several institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. raised its position in shares of MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after buying an additional 895,227 shares in the last quarter. State Street Corp increased its stake in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares during the last quarter. Geode Capital Management LLC raised its position in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Point72 Asset Management L.P. raised its position in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of MasTec by 4.3% in the 2nd quarter. Marshall Wace LLP now owns 718,086 shares of the construction company’s stock valued at $76,828,000 after purchasing an additional 29,631 shares during the last quarter. 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.