MasTec (NYSE:MTZ) Sets New 12-Month High – Still a Buy?

MasTec, Inc. (NYSE:MTZ) shares reached a new 52-week high on Tuesday . The stock traded as high as $158.88 and last traded at $156.91, with a volume of 50481 shares traded. The stock had previously closed at $155.00.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTZ. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. B. Riley reiterated a “buy” rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Stifel Nicolaus raised their target price on MasTec from $153.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Craig Hallum upped their price target on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Robert W. Baird upped their target price on shares of MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.07.

MasTec Trading Up 1.8 %

The stock has a market cap of $12.51 billion, a P/E ratio of 141.13 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. The business’s fifty day simple moving average is $141.58 and its 200 day simple moving average is $124.82.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 19,023 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was 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. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the director now owns 42,478 shares of the company’s stock, valued at $6,159,310. This represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,023 shares of company stock valued at $4,515,089 over the last quarter. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTZ. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of MasTec during the fourth quarter worth $2,451,000. Exchange Traded Concepts LLC lifted its stake in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after buying an additional 13,241 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in MasTec during the 4th quarter worth about $256,000. Brighton Jones LLC acquired a new stake in shares of MasTec in the fourth quarter valued at about $227,000. Finally, Janney Montgomery Scott LLC boosted its position in MasTec by 82.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,824 shares of the construction company’s stock valued at $1,065,000 after purchasing an additional 3,527 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

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.