MasTec (NYSE:MTZ) Sets New 12-Month High – Here’s Why

MasTec, Inc. (NYSE:MTZ) shares reached a new 52-week high on Tuesday . The company traded as high as $152.84 and last traded at $151.68, with a volume of 472151 shares traded. The stock had previously closed at $144.07.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. B. Riley restated a “buy” rating and issued a $166.00 price target (up previously from $151.00) on shares of MasTec in a report on Tuesday, November 5th. Stifel Nicolaus upped their price target on MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. KeyCorp upped their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird upped their price target on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.07.

MasTec Stock Up 5.1 %

The firm has a fifty day moving average price of $140.36 and a 200-day moving average price of $123.04. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 135.16 and a beta of 1.74.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $135.63, for a total value of $2,580,089.49. Following the completion of the transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,023 shares of company stock worth $4,515,089 over the last quarter. 21.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTZ. American Century Companies Inc. raised its position in MasTec by 12.9% in the second quarter. American Century Companies Inc. now owns 15,557 shares of the construction company’s stock valued at $1,664,000 after purchasing an additional 1,777 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in MasTec in the second quarter valued at about $40,000. Envestnet Asset Management Inc. raised its position in MasTec by 169.7% in the second quarter. Envestnet Asset Management Inc. now owns 21,703 shares of the construction company’s stock valued at $2,322,000 after purchasing an additional 13,656 shares during the period. Amalgamated Bank grew its stake in shares of MasTec by 2.8% during the second quarter. Amalgamated Bank now owns 37,771 shares of the construction company’s stock valued at $4,041,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of MasTec by 12.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,170 shares of the construction company’s stock valued at $553,000 after acquiring an additional 582 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other 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.