MasTec (NYSE:MTZ) Reaches New 1-Year High – Should You Buy?

MasTec, Inc. (NYSE:MTZ)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $150.55 and last traded at $148.88, with a volume of 31772 shares changing hands. The stock had previously closed at $148.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MTZ shares. Robert W. Baird increased their price target on MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. UBS Group increased their target price on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial lifted their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group increased their price objective on shares of MasTec from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, B. Riley reissued a “buy” rating and set a $166.00 price target (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $150.23.

MasTec Stock Down 1.3 %

The stock’s fifty day moving average price is $138.34 and its 200-day moving average price is $121.77. The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 130.50 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were 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 in the company, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $135.63, for a total transaction of $2,580,089.49. Following the completion of the sale, the chief operating officer now owns 197,202 shares of the company’s stock, valued at $26,746,507.26. This trade represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,023 shares of company stock valued at $4,515,089 in the last three months. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MasTec

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the third quarter valued at about $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec in the 2nd quarter valued at approximately $40,000. UMB Bank n.a. increased its holdings in MasTec by 46.3% in the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after purchasing an additional 120 shares during the period. True Wealth Design LLC bought a new position in MasTec during the 3rd quarter worth $57,000. Finally, GAMMA Investing LLC increased its stake in shares of MasTec by 39.9% in the third quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $63,000 after buying an additional 146 shares during the period. 78.10% of the stock is currently owned by institutional investors.

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.