MasTec (NYSE:MTZ) Reaches New 1-Year High - Still a Buy?

MasTec, Inc. (NYSE:MTZ - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $167.03 and last traded at $166.56, with a volume of 595143 shares traded. The stock had previously closed at $163.71.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MTZ shares. Jefferies Financial Group initiated coverage on shares of MasTec in a research report on Friday, May 16th. They issued a "buy" rating and a $188.00 price objective on the stock. Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 9th. Barclays increased their price target on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. KeyCorp raised their price objective on shares of MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus upped their target price on MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $166.75.

MasTec Trading Up 1.4%

The business has a 50 day simple moving average of $150.48 and a two-hundred day simple moving average of $138.61. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The company has a market cap of $13.48 billion, a PE ratio of 62.82 and a beta of 1.75.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the firm posted ($0.13) earnings per share. The business's quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director now owns 39,782 shares of the company's stock, 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 accessible through this hyperlink. Corporate insiders own 21.30% of the company's stock.

Hedge Funds Weigh In On MasTec

Hedge funds have recently made changes to their positions in the stock. Hill City Capital LP increased its holdings in shares of MasTec by 0.7% during the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company's stock worth $250,343,000 after buying an additional 15,000 shares during the last quarter. Hood River Capital Management LLC grew its position in MasTec by 3.5% during 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 acquiring an additional 51,531 shares during the period. Dimensional Fund Advisors LP increased its stake in MasTec by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company's stock worth $142,331,000 after acquiring an additional 39,622 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of MasTec by 163.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock worth $121,843,000 after purchasing an additional 648,184 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock worth $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.