MasTec (NYSE:MTZ) Reaches New 12-Month High - Time to Buy?

Key Points

• MasTec shares reached a new 52-week high at $190.80 during trading, reflecting strong market interest and performance.
• Wall Street analysts show optimistic sentiments, with target price increases from various firms, including JPMorgan's rise to $214.00 and Stifel Nicolaus's to $181.00.
• The company's recent earnings report revealed an EPS of $0.51, exceeding expectations and indicating a 6% growth in revenue year-over-year.

MasTec, Inc. (NYSE:MTZ - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $190.80 and last traded at $189.48, with a volume of 51228 shares changing hands. The stock had previously closed at $187.15.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial boosted their price target on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Citigroup boosted their target price on MasTec from $192.00 to $220.00 and gave the stock a "buy" rating in a report on Monday. Jefferies Financial Group initiated coverage on MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 target price for the company. Stifel Nicolaus boosted their target price on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. boosted their target price on MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, MasTec currently has an average rating of "Buy" and an average target price of $179.88.

MasTec Trading Down 10.2%

The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 61.96 and a beta of 1.75. The business has a fifty day moving average price of $168.58 and a 200 day moving average price of $144.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 1.18.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The company's quarterly revenue was up 19.7% compared to the same quarter last year. On average, equities analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director directly owned 39,782 shares in the company, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Banco Santander S.A. raised its stake in shares of MasTec by 32.0% in the second quarter. Banco Santander S.A. now owns 49,566 shares of the construction company's stock valued at $8,448,000 after purchasing an additional 12,005 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of MasTec by 13.9% in the second quarter. Envestnet Asset Management Inc. now owns 52,105 shares of the construction company's stock valued at $8,880,000 after purchasing an additional 6,369 shares in the last quarter. Brighton Jones LLC raised its stake in shares of MasTec by 149.8% in the second quarter. Brighton Jones LLC now owns 4,504 shares of the construction company's stock valued at $768,000 after purchasing an additional 2,701 shares in the last quarter. MQS Management LLC acquired a new position in shares of MasTec in the second quarter valued at $308,000. Finally, Leavell Investment Management Inc. raised its stake in shares of MasTec by 74.1% in the second quarter. Leavell Investment Management Inc. now owns 7,050 shares of the construction company's stock valued at $1,202,000 after purchasing an additional 3,000 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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.