MasTec (NYSE:MTZ) Hits New 52-Week High – Time to Buy?

Shares of MasTec, Inc. (NYSE:MTZ) hit a new 52-week high during trading on Tuesday . The company traded as high as $152.84 and last traded at $151.68, with a volume of 472151 shares traded. The stock had previously closed at $144.07.

Analyst Ratings Changes

MTZ has been the subject of a number of analyst reports. Craig Hallum raised their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 4th. UBS Group raised their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Guggenheim initiated coverage on MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of MasTec from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. started coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target for the company. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.07.

MasTec Stock Performance

The company has a market cap of $12.29 billion, a P/E ratio of 138.53 and a beta of 1.74. The stock has a 50 day moving average price of $141.17 and a two-hundred day moving average price of $123.78. 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, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,023 shares of company stock worth $4,515,089 in the last 90 days. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Several large investors have recently modified their holdings of MTZ. Atom Investors LP lifted its position in MasTec by 979.0% during the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after purchasing an additional 55,363 shares during the period. State Street Corp lifted its holdings in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of MasTec during the 3rd quarter worth approximately $1,470,000. Makena Capital Management LLC boosted its position in shares of 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 acquiring an additional 25,532 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after acquiring an additional 7,469 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

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.