MasTec (NYSE:MTZ) Reaches New 52-Week High – What’s Next?

MasTec, Inc. (NYSE:MTZ) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $277.31 and last traded at $275.1030, with a volume of 304455 shares traded. The stock had previously closed at $264.18.

Wall Street Analyst Weigh In

MTZ has been the topic of several recent analyst reports. Mizuho set a $254.00 price target on MasTec in a research note on Monday, November 3rd. Barclays boosted their target price on shares of MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Robert W. Baird lifted their price target on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Stifel Nicolaus boosted their price target on shares of MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $238.16.

MasTec Price Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The company’s 50 day moving average price is $239.09 and its 200 day moving average price is $212.66. The firm has a market capitalization of $22.38 billion, a P/E ratio of 67.36 and a beta of 1.94.

Hedge Funds Weigh In On MasTec

Hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC lifted its position in MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Caldwell Trust Co bought a new stake in shares of MasTec during the second quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of MasTec during the fourth quarter worth approximately $30,000. Parkside Financial Bank & Trust lifted its holdings in MasTec by 253.7% in the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after buying an additional 137 shares during the period. Finally, Evelyn Partners Asset Management Ltd bought a new position in MasTec in the second quarter valued at approximately $43,000. Institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.