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

Shares of MasTec, Inc. (NYSE:MTZ) hit a new 52-week high during trading on Monday . The company traded as high as $167.03 and last traded at $166.56, with a volume of 595143 shares. The stock had previously closed at $163.71.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of MasTec in a research note on Monday, March 31st. They issued a “peer perform” rating for the company. Barclays lifted their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Truist Financial lifted their price target on shares of MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Citigroup lifted their price target on shares of MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group upgraded shares of MasTec from a “neutral” rating to a “buy” rating and boosted their target price for the company from $156.00 to $195.00 in a research report on Friday, June 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, MasTec presently has an average rating of “Buy” and a consensus price target of $166.75.

MasTec Price Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18. The firm has a market cap of $13.14 billion, a P/E ratio of 61.24 and a beta of 1.75. The stock’s 50-day simple moving average is $146.37 and its two-hundred day simple moving average is $137.75.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.17. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. Equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the sale, the director now directly owns 39,782 shares of the company’s stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 21.30% of the stock is owned by company insiders.

Institutional Trading of MasTec

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after buying an additional 116 shares during the last quarter. Colonial Trust Co SC raised its position in MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Smartleaf Asset Management LLC raised its position in MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after buying an additional 128 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company’s stock valued at $32,000 after purchasing an additional 263 shares during the period. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in MasTec during the first quarter valued at $35,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

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.