MasTec (NYSE:MTZ) Sets New 52-Week High on Analyst Upgrade

MasTec, Inc. (NYSE:MTZ - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $180.00 to $214.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. MasTec traded as high as $181.30 and last traded at $180.30, with a volume of 301367 shares changing hands. The stock had previously closed at $173.89.

Several other equities research analysts have also recently commented on the stock. Wolfe Research began coverage on shares of MasTec in a research report on Monday, March 31st. They set a "peer perform" rating for the company. Stifel Nicolaus raised their price objective on shares of MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Barclays reiterated an "overweight" rating and set a $200.00 target price (up previously from $145.00) on shares of MasTec in a research report on Monday. Roth Capital assumed coverage on MasTec in a research report on Tuesday, July 1st. They issued a "buy" rating and a $210.00 price target on the stock. Finally, Jefferies Financial Group started coverage on MasTec in a research note on Friday, May 16th. They set a "buy" rating and a $188.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $176.94.

Insider Activity at MasTec

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

Institutional Trading of MasTec

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Colonial Trust Co SC raised its stake in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 141 shares during the period. Rothschild Investment LLC raised its stake in MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after acquiring an additional 263 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in MasTec during the 1st quarter valued at $35,000. Ameritas Advisory Services LLC bought a new position in MasTec during the second quarter worth $35,000. Finally, Harbor Investment Advisory LLC lifted its stake in shares of MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after buying an additional 200 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Down 0.4%

The firm has a market cap of $14.33 billion, a P/E ratio of 66.77 and a beta of 1.75. The firm's fifty day moving average is $165.34 and its 200 day moving average is $143.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.22.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly 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. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. MasTec's revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) earnings per share. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

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.