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

MasTec, Inc. (NYSE:MTZ)’s share price hit a new 52-week high on Tuesday . The company traded as high as $147.42 and last traded at $146.71, with a volume of 232276 shares traded. The stock had previously closed at $143.07.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of analyst reports. Craig Hallum upped their price objective on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. initiated coverage on shares of MasTec in a research report on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective for the company. KeyCorp upped their price objective on shares of MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Robert W. Baird boosted their target price on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial raised shares of MasTec from a “hold” rating to a “buy” rating and boosted their target price for the stock from $133.00 to $173.00 in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

MasTec Price Performance

The company has a market cap of $11.88 billion, a price-to-earnings ratio of 130.99 and a beta of 1.70. 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 company’s 50 day moving average price is $129.60 and its 200 day moving average price is $115.40.

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 800 shares of MasTec 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. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total transaction of $348,780.00. Following the sale, the director now owns 48,173 shares of the company’s stock, valued at approximately $5,600,592.98. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,823 shares of company stock worth $5,558,301 over the last 90 days. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in MasTec during the 3rd quarter valued at $25,000. Hobbs Group Advisors LLC bought a new position in MasTec during the 2nd quarter valued at $27,000. GAMMA Investing LLC boosted its stake in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in MasTec during the 2nd quarter valued at $40,000. Finally, UMB Bank n.a. boosted its stake in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. 78.10% of the stock is 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.