MasTec (NYSE:MTZ) Sets New 52-Week High – Should You Buy?

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

Analyst Ratings Changes

MTZ has been the subject of several analyst reports. UBS Group raised their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on shares of MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen boosted their target price on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. began coverage on MasTec in a research note on Monday, October 7th. They set an “overweight” rating and a $153.00 price target for the company. Finally, Truist Financial upped their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.21.

MasTec Trading Down 1.1 %

The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average is $142.40 and its 200 day moving average is $125.48. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 142.05 and a beta of 1.74.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the chief operating officer now directly owns 187,202 shares in the company, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred 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 completion of the sale, the director now directly owns 42,478 shares in the company, valued at $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,023 shares of company stock valued at $4,515,089 in the last ninety days. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MasTec

A number of hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec during the 3rd quarter worth approximately $25,000. R Squared Ltd purchased a new position in MasTec during the fourth quarter worth approximately $44,000. UMB Bank n.a. boosted its stake in MasTec by 46.3% during the third quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after buying an additional 120 shares during the last quarter. True Wealth Design LLC purchased a new stake in MasTec in the 3rd quarter valued at $57,000. Finally, GAMMA Investing LLC increased its stake in shares of MasTec by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $63,000 after acquiring an additional 146 shares during the last quarter. 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.