MasTec (NYSE:MTZ) Reaches New 52-Week High – Should You Buy?

MasTec, Inc. (NYSE:MTZ)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $167.03 and last traded at $166.56, with a volume of 595143 shares trading hands. The stock had previously closed at $163.71.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of MasTec from $134.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. The Goldman Sachs Group raised shares of MasTec from a “neutral” rating to a “buy” rating and lifted their price target for the company from $156.00 to $195.00 in a research note on Friday, June 6th. Stifel Nicolaus lifted their price target on shares of MasTec from $171.00 to $181.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. B. Riley restated a “buy” rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Finally, Citigroup raised their price objective on MasTec from $152.00 to $170.00 and gave the company a “buy” rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $166.75.

MasTec Stock Performance

The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $146.37 and a 200 day moving average price of $137.75. The firm has a market cap of $13.14 billion, a PE ratio of 61.24 and a beta of 1.75.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. MasTec’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) EPS. As a group, equities research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in MasTec in the 4th quarter worth about $227,000. Allworth Financial LP increased its holdings in MasTec by 15.1% during the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after purchasing an additional 78 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of MasTec by 24.8% in the 4th quarter. Principal Financial Group Inc. now owns 209,342 shares of the construction company’s stock valued at $28,500,000 after acquiring an additional 41,661 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of MasTec by 7.1% in the 4th quarter. Sanctuary Advisors LLC now owns 4,352 shares of the construction company’s stock valued at $639,000 after acquiring an additional 289 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in MasTec by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,396 shares of the construction company’s stock valued at $326,000 after purchasing an additional 116 shares during the period. 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.