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

MasTec, Inc. (NYSE:MTZ - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $150.55 and last traded at $148.88, with a volume of 31772 shares traded. The stock had previously closed at $148.13.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTZ. Truist Financial increased their target price on shares of MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. began coverage on shares of MasTec in a research report on Monday, October 7th. They issued an "overweight" rating and a $153.00 price objective on the stock. Citigroup lifted their target price on shares of MasTec from $122.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Craig Hallum upped their price target on MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus boosted their price target on MasTec from $153.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $150.23.

MasTec Stock Performance

The business's 50 day simple moving average is $138.34 and its two-hundred day simple moving average is $121.77. The firm has a market capitalization of $11.58 billion, a PE ratio of 130.46 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Insider Activity at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now directly owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $135.63, for a total transaction 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. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,023 shares of company stock worth $4,515,089. 21.30% of the stock is owned by insiders.

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently modified their holdings of MTZ. Atom Investors LP grew its stake in MasTec by 979.0% during the third quarter. Atom Investors LP now owns 61,018 shares of the construction company's stock valued at $7,511,000 after acquiring an additional 55,363 shares in the last quarter. Texas Permanent School Fund Corp increased its position in MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company's stock worth $6,154,000 after purchasing an additional 4,716 shares during the last quarter. State Street Corp raised its stake in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after purchasing an additional 24,522 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in MasTec during the third quarter valued at $1,470,000. Finally, Makena Capital Management LLC grew its stake in shares of MasTec by 41.4% in 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. 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.