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

Shares of MasTec, Inc. (NYSE:MTZ) reached a new 52-week high during trading on Monday . The company traded as high as $261.10 and last traded at $261.4550, with a volume of 7805 shares. The stock had previously closed at $244.86.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Guggenheim reaffirmed a “neutral” rating and set a $215.00 target price on shares of MasTec in a research note on Wednesday, October 15th. Truist Financial raised their price objective on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Mizuho set a $254.00 price objective on MasTec in a research report on Monday, November 3rd. Finally, Stifel Nicolaus upped their target price on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $238.16.

MasTec Trading Down 0.2%

The company has a market cap of $20.64 billion, a P/E ratio of 62.13 and a beta of 1.94. The firm’s 50 day moving average is $231.48 and its two-hundred day moving average is $208.24. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Institutional Trading of MasTec

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in MasTec during the 4th quarter worth approximately $227,000. NewEdge Advisors LLC boosted its stake in shares of MasTec by 32.6% in the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after purchasing an additional 1,083 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of MasTec during the second quarter worth $271,000. Janney Montgomery Scott LLC raised its stake in MasTec by 25.9% during the second quarter. Janney Montgomery Scott LLC now owns 5,468 shares of the construction company’s stock worth $932,000 after buying an additional 1,125 shares during the last quarter. Finally, Truist Financial Corp bought a new position in MasTec during the second quarter worth $420,000. 78.10% of the stock is currently owned by 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.