MasTec (NYSE:MTZ) Sets New 12-Month High – Time to Buy?

MasTec, Inc. (NYSE:MTZ) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $143.30 and last traded at $143.12, with a volume of 72544 shares. The stock had previously closed at $140.63.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their target price on shares of MasTec from $121.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. KeyCorp boosted their price target on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. DA Davidson upped their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. assumed coverage on MasTec in a report on Monday, October 7th. They issued an “overweight” rating and a $153.00 target price for the company. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.62.

MasTec Stock Up 1.2 %

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 firm’s 50-day simple moving average is $120.78 and its 200 day simple moving average is $110.95. The company has a market capitalization of $11.28 billion, a PE ratio of 125.56 and a beta of 1.70.

Insider Activity

In other news, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the sale, the chief operating officer now directly owns 217,202 shares in the company, valued at $27,426,096.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock worth $5,558,301 over the last ninety days. 21.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MTZ. CIBC Asset Management Inc grew its position in shares of MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after acquiring an additional 82 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of MasTec by 0.4% during the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after purchasing an additional 100 shares during the period. Victory Capital Management Inc. lifted its position in shares of MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after buying an additional 101 shares during the last quarter. UMB Bank n.a. lifted its position in shares of MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after buying an additional 138 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.