MasTec (NYSE:MTZ) Hits New 12-Month High at $113.69

Shares of MasTec, Inc. (NYSE:MTZ) hit a new 52-week high during trading on Monday . The stock traded as high as $113.69 and last traded at $111.86, with a volume of 51874 shares. The stock had previously closed at $111.95.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTZ. Citigroup increased their price objective on shares of MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Truist Financial reissued a “hold” rating and issued a $112.00 target price (up from $109.00) on shares of MasTec in a report on Monday, August 5th. StockNews.com raised shares of MasTec from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group lifted their price objective on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Finally, Craig Hallum upped their target price on shares of MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.50.

MasTec Stock Performance

The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average price of $106.95 and a 200 day moving average price of $97.60. The stock has a market cap of $8.81 billion, a P/E ratio of -799.64 and a beta of 1.65.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.44% and a net margin of 0.06%. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the business earned $0.81 EPS. MasTec’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that MasTec, Inc. will post 2.59 EPS for the current year.

Institutional Investors Weigh In On MasTec

Several large investors have recently added to or reduced their stakes in MTZ. Point72 Asset Management L.P. increased its stake in shares of MasTec by 96.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of MasTec by 25.6% in the 4th quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock valued at $8,004,000 after acquiring an additional 21,564 shares during the period. 1492 Capital Management LLC bought a new position in shares of MasTec in the 4th quarter worth $1,059,000. The Manufacturers Life Insurance Company lifted its stake in shares of MasTec by 5.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock worth $25,975,000 after purchasing an additional 18,402 shares during the last quarter. Finally, FACT Capital LP boosted its position in MasTec by 20.7% during the fourth quarter. FACT Capital LP now owns 101,929 shares of the construction company’s stock valued at $7,718,000 after purchasing an additional 17,511 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other 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.