MasTec (NYSE:MTZ) Reaches New 1-Year High – Here’s Why

MasTec, Inc. (NYSE:MTZ)’s stock price reached a new 52-week high during 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 Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup raised their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price objective on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a report on Monday, November 4th. The Goldman Sachs Group lifted their target price on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their target price on shares of MasTec from $121.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, KeyCorp lifted their target price on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

MasTec Stock Up 2.3 %

The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $11.48 billion, a price-to-earnings ratio of 129.33 and a beta of 1.70. The firm’s fifty day simple moving average is $122.03 and its two-hundred day simple moving average is $111.59.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 19,023 shares of the business’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 transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at $26,746,507.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 197,202 shares in the company, valued at approximately $26,746,507.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert E. Apple sold 20,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,823 shares of company stock worth $5,558,301 in the last ninety days. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently added to or reduced their stakes in the business. Makena Capital Management LLC lifted its holdings in MasTec by 41.4% during the 3rd quarter. Makena Capital Management LLC now owns 87,146 shares of the construction company’s stock worth $10,728,000 after buying an additional 25,532 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in MasTec by 4.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 33,761 shares of the construction company’s stock worth $4,156,000 after buying an additional 1,375 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in MasTec during the 3rd quarter worth approximately $1,174,000. Caprock Group LLC raised its holdings in shares of MasTec by 13.4% in the 3rd quarter. Caprock Group LLC now owns 2,999 shares of the construction company’s stock valued at $369,000 after purchasing an additional 354 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in shares of MasTec in the 3rd quarter valued at $412,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.