MasTec (NYSE:MTZ) Sets New 1-Year High – What’s Next?

by · The Markets Daily

MasTec, Inc. (NYSE:MTZ – Get Free Report)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $143.30 and last traded at $143.12, with a volume of 72544 shares changing hands. The stock had previously closed at $140.63.

Analyst Upgrades and Downgrades

MTZ has been the subject of several research reports. KeyCorp boosted their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Citigroup upped their price objective on MasTec from $122.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. DA Davidson boosted their price target on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. began coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average price target of $148.62.

Check Out Our Latest Report on MasTec

MasTec Stock Up 1.2 %

The company’s fifty day simple moving average is $120.78 and its 200-day simple moving average is $110.95. The firm has a market capitalization of $11.28 billion, a PE ratio of 125.56 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Robert E. Apple sold 19,023 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $135.63, for a total value of $2,580,089.49. Following the sale, the chief operating officer now owns 197,202 shares in the company, valued at $26,746,507.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,823 shares of company stock valued at $5,558,301. 21.30% of the stock is owned by company insiders.

Institutional Trading of MasTec

Institutional investors have recently bought and sold shares of the business. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the second quarter valued at about $27,000. GAMMA Investing LLC increased its holdings in shares of MasTec by 64.9% in the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in MasTec during the second quarter worth $40,000. UMB Bank n.a. grew its holdings in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after buying an additional 120 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of MasTec by 5,436.4% in the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after acquiring an additional 598 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Company Profile

(Get Free Report)

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.

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