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

MasTec, Inc. (NYSE:MTZ)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $147.42 and last traded at $146.71, with a volume of 232276 shares. The stock had previously closed at $143.07.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MTZ shares. TD Cowen increased their target price on shares of MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Citigroup increased their price objective on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. UBS Group increased their price objective on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

MasTec Stock Performance

The stock has a market cap of $11.88 billion, a P/E ratio of 130.99 and a beta of 1.70. The firm’s 50-day moving average is $129.60 and its two-hundred day moving average is $115.40. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the transaction, the chief operating officer now directly owns 217,202 shares in the company, valued at approximately $27,426,096.54. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MasTec

Institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the third quarter worth $25,000. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the second quarter worth $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec in the second quarter worth $40,000. GAMMA Investing LLC grew its stake in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

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.