MasTec (NYSE:MTZ) Reaches New 1-Year High at $113.69

MasTec, Inc. (NYSE:MTZ) shares hit a new 52-week high during trading on Monday . The company traded as high as $113.69 and last traded at $113.01, with a volume of 372320 shares traded. The stock had previously closed at $112.28.

Analyst Ratings Changes

A number of research analysts recently commented on MTZ shares. Citigroup upped their price objective on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Truist Financial restated a “hold” rating and set a $112.00 price objective (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. Stifel Nicolaus upped their price objective on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. B. Riley upped their price objective on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, DA Davidson upped their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.50.

MasTec Stock Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -802.00 and a beta of 1.70. The company has a fifty day moving average price of $107.06 and a two-hundred day moving average price of $101.35.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. As a group, equities research analysts expect that MasTec, Inc. will post 2.71 EPS for the current year.

Institutional Trading of MasTec

Several institutional investors have recently modified their holdings of MTZ. Hobbs Group Advisors LLC acquired a new stake in shares of MasTec in the second quarter valued at $27,000. Quarry LP acquired a new stake in shares of MasTec during the fourth quarter worth $37,000. GAMMA Investing LLC raised its position in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after purchasing an additional 144 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec during the second quarter worth $40,000. Finally, Bessemer Group Inc. raised its position in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after purchasing an additional 598 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

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.