MasTec (NYSE:MTZ) Sets New 12-Month High – Here’s What Happened

MasTec, Inc. (NYSE:MTZ)’s share price reached a new 52-week high on Tuesday . The company traded as high as $252.00 and last traded at $247.7860, with a volume of 12676 shares. The stock had previously closed at $245.40.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Truist Financial increased their price objective on MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Guggenheim reissued a “neutral” rating and set a $215.00 price objective on shares of MasTec in a research note on Wednesday, October 15th. KeyCorp restated an “overweight” rating and issued a $264.00 target price on shares of MasTec in a research note on Wednesday, January 7th. Finally, Stifel Nicolaus raised their price target on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, MasTec has a consensus rating of “Buy” and an average target price of $238.16.

MasTec Stock Performance

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The company has a market cap of $19.53 billion, a PE ratio of 58.95 and a beta of 1.94. The business’s 50-day moving average is $226.54 and its 200 day moving average is $205.18.

Institutional Investors Weigh In On MasTec

Several institutional investors have recently bought and sold shares of MTZ. Allspring Global Investments Holdings LLC increased its position in shares of MasTec by 92.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock valued at $13,981,000 after acquiring an additional 31,218 shares in the last quarter. Bridge City Capital LLC boosted its stake in MasTec by 27.2% during the 2nd quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock valued at $8,412,000 after purchasing an additional 10,565 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of MasTec in the 2nd quarter worth $12,366,000. Sterling Capital Management LLC raised its stake in shares of MasTec by 16.3% in the second quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock worth $13,472,000 after purchasing an additional 11,071 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of MasTec by 71.6% during the second quarter. Osaic Holdings Inc. now owns 30,118 shares of the construction company’s stock valued at $5,132,000 after purchasing an additional 12,567 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

About MasTec

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.