MasTec (NYSE:MTZ) Hits New 1-Year High at $113.14

MasTec, Inc. (NYSE:MTZ) shares hit a new 52-week high during trading on Monday . The company traded as high as $113.14 and last traded at $113.05, with a volume of 397761 shares traded. The stock had previously closed at $110.80.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTZ. KeyCorp boosted their price target on MasTec from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. TD Cowen upped their target price on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 6th. Stifel Nicolaus lifted their price objective on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, August 5th. StockNews.com upgraded MasTec from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Finally, Truist Financial restated a “hold” rating and set a $112.00 target price (up from $109.00) on shares of MasTec in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and a consensus target price of $117.50.

MasTec Trading Up 0.8 %

The company has a market cap of $8.94 billion, a P/E ratio of -803.57 and a beta of 1.65. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average price of $106.87 and a 200-day moving average price of $96.81.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.44%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Analysts forecast that MasTec, Inc. will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hobbs Group Advisors LLC acquired a new stake in MasTec in the second quarter valued at $27,000. DekaBank Deutsche Girozentrale acquired a new position in MasTec in the second quarter valued at $40,000. GAMMA Investing LLC grew its holdings in MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares during the period. Quarry LP bought a new position in shares of MasTec in the 4th quarter worth about $37,000. Finally, Blue Trust Inc. raised its position in shares of MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after acquiring an additional 138 shares in the last quarter. 78.10% of the stock is owned by 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.