MasTec Inc. (MTZ) Sets New 12-Month High at $25.00
MasTec Inc. (NYSE:MTZ) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.00 and last traded at $24.60, with a volume of 503,843 shares traded. The stock had previously closed at $23.90.
Several research firms have recently issued reports on MTZ. Canaccord Genuity reaffirmed a “buy” rating on shares of MasTec in a research report on Sunday, May 8th. KeyCorp reissued a “buy” rating on shares of MasTec in a research report on Saturday, April 9th. Deutsche Bank AG reduced their price target on shares of MasTec from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, April 7th. TheStreet raised shares of MasTec from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Finally, DA Davidson boosted their price target on shares of MasTec to $25.00 in a research report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of C$22.91.
The stock’s market cap is $1.97 billion. The stock has a 50-day moving average price of $22.85 and a 200 day moving average price of $19.35.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. The firm had revenue of $974.20 million for the quarter, compared to analyst estimates of $950.93 million. MasTec’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. Equities research analysts predict that MasTec Inc. will post $1.40 EPS for the current year.
In other MasTec news, COO Robert E. Apple sold 13,739 shares of the stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of C$23.77, for a total transaction of C$326,576.03. Following the transaction, the chief operating officer now directly owns 207,306 shares in the company, valued at approximately C$4,927,663.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 40,000 shares of the stock in a transaction on Monday, June 20th. The shares were sold at an average price of C$23.57, for a total transaction of C$942,800.00. Following the transaction, the chief operating officer now owns 243,567 shares in the company, valued at C$5,740,874.19. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Russell Frank Co bought a new position in MasTec during the fourth quarter worth approximately $2,732,000. Nationwide Fund Advisors increased its position in MasTec by 101.1% in the fourth quarter. Nationwide Fund Advisors now owns 92,984 shares of the company’s stock worth $1,616,000 after buying an additional 46,750 shares during the period. Sei Investments Co. increased its position in MasTec by 315.0% in the fourth quarter. Sei Investments Co. now owns 175,903 shares of the company’s stock worth $3,057,000 after buying an additional 133,515 shares during the period. Tributary Capital Management LLC bought a new position in MasTec during the fourth quarter worth approximately $1,564,000. Finally, Morgan Stanley increased its position in MasTec by 164.6% in the fourth quarter. Morgan Stanley now owns 135,967 shares of the company’s stock worth $2,364,000 after buying an additional 84,574 shares during the period.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
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