MasTec (NYSE:MTZ) Hits New 12-Month High - Should You Buy?

MasTec, Inc. (NYSE:MTZ - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $173.24 and last traded at $172.58, with a volume of 401122 shares changing hands. The stock had previously closed at $169.36.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. KeyCorp lifted their target price on MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group raised MasTec from a "neutral" rating to a "buy" rating and upped their target price for the company from $156.00 to $195.00 in a research report on Friday, June 6th. Citigroup increased their price objective on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wolfe Research began coverage on MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Finally, Piper Sandler upped their target price on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $169.29.

MasTec Trading Up 1.5%

The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of 63.19 and a beta of 1.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22. The business has a 50-day moving average of $156.81 and a 200-day moving average of $140.00.

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

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director owned 39,782 shares in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hill City Capital LP raised its position in MasTec by 0.7% in the first quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company's stock valued at $250,343,000 after purchasing an additional 15,000 shares during the period. Hood River Capital Management LLC raised its position in MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after purchasing an additional 51,531 shares during the period. Dimensional Fund Advisors LP raised its position in MasTec by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company's stock valued at $142,331,000 after purchasing an additional 39,622 shares during the period. Goldman Sachs Group Inc. raised its position in MasTec by 163.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock valued at $121,843,000 after purchasing an additional 648,184 shares during the period. Finally, AQR Capital Management LLC raised its position in MasTec by 23.6% in the first quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock valued at $106,234,000 after purchasing an additional 184,277 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

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.