MasTec (NYSE:MTZ) Reaches New 52-Week High - What's Next?

MasTec, Inc. (NYSE:MTZ - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $134.99 and last traded at $134.99, with a volume of 1094 shares. The stock had previously closed at $122.89.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on MasTec from $121.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Truist Financial lifted their target price on MasTec from $112.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. began coverage on shares of MasTec in a research report on Monday, October 7th. They set an "overweight" rating and a $153.00 price objective for the company. Finally, B. Riley lifted their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.00.

MasTec Stock Performance

The company has a market cap of $10.30 billion, a PE ratio of 1,474.78 and a beta of 1.70. The company has a 50-day moving average of $118.84 and a 200-day moving average of $109.35. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business's revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that MasTec, Inc. will post 2.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 800 shares of MasTec stock in a transaction on Monday, October 7th. The stock was sold at an average price of $130.04, for a total transaction of $104,032.00. Following the sale, the chief operating officer now directly owns 216,402 shares in the company, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Robert E. Apple sold 800 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares in the company, valued at approximately $28,140,916.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 20,000 shares of the 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 transaction, the chief operating officer now directly owns 217,202 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 23,800 shares of company stock valued at $2,978,212. Corporate insiders own 21.30% of the company's stock.

Institutional Trading of MasTec

Several hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of MasTec in the first quarter valued at $785,000. Swedbank AB purchased a new position in MasTec during the 1st quarter valued at about $5,287,000. Interval Partners LP bought a new stake in shares of MasTec during the first quarter valued at about $4,230,000. Boston Partners purchased a new stake in shares of MasTec in the first quarter worth about $748,000. Finally, Texas Permanent School Fund Corp boosted its position in shares of MasTec by 8.9% in the second quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company's stock valued at $6,154,000 after acquiring an additional 4,716 shares during the period. 78.10% of the stock is currently owned by 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.