MasTec (NYSE:MTZ) Reaches New 1-Year High – Time to Buy?

Shares of MasTec, Inc. (NYSE:MTZ) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $150.55 and last traded at $148.88, with a volume of 31772 shares changing hands. The stock had previously closed at $148.13.

Analyst Ratings Changes

Several brokerages have issued reports on MTZ. KeyCorp increased their price target on MasTec from $123.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Robert W. Baird lifted their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group upped their target price on shares of MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, B. Riley reiterated a “buy” rating and issued a $166.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.23.

MasTec Trading Down 1.3 %

The company has a market capitalization of $11.58 billion, a PE ratio of 130.50 and a beta of 1.74. The stock has a fifty day moving average of $138.34 and a two-hundred day moving average of $121.77. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 19,023 shares of MasTec stock in a transaction that occurred on Friday, November 1st. The shares were 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 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,023 shares of company stock worth $4,515,089. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MasTec

Hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after buying an additional 82 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in MasTec by 2.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after acquiring an additional 94 shares during the period. New York State Teachers Retirement System lifted its holdings in MasTec by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after purchasing an additional 100 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after purchasing an additional 101 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in MasTec by 46.3% in the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock worth $47,000 after purchasing an additional 120 shares during the period. 78.10% of the stock is owned by 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.