MasTec Inc. (MTZ) Sets New 52-Week High at $30.92
Shares of MasTec Inc. (NYSE:MTZ) hit a new 52-week high during trading on Wednesday . The stock traded as high as $30.92 and last traded at $30.81, with a volume of 152,888 shares. The stock had previously closed at $30.86.
Several analysts have recently commented on MTZ shares. Maxim Group increased their price objective on MasTec from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. Canaccord Genuity reissued a “buy” rating on shares of MasTec in a research note on Sunday, May 8th. FBR & Co reissued a “buy” rating on shares of MasTec in a research note on Tuesday, May 10th. Wunderlich increased their price objective on MasTec from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, Zacks Investment Research downgraded MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. MasTec currently has a consensus rating of “Buy” and an average price target of C$27.25.
The firm’s 50-day moving average is $26.38 and its 200 day moving average is $21.96. The stock’s market capitalization is $2.48 billion.
MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.14. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.16 billion. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts predict that MasTec Inc. will post $1.58 EPS for the current year.
In other news, COO Robert E. Apple sold 13,739 shares of MasTec stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 207,306 shares in the company, valued at C$4,927,663.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert E. Apple sold 40,000 shares of MasTec stock in a transaction that occurred 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 of the company’s stock, valued at C$5,740,874.19. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in MasTec stock. Dimensional Fund Advisors LP raised its stake in shares of MasTec Inc. (NYSE:MTZ) by 40.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,156,345 shares of the company’s stock after buying an additional 1,201,540 shares during the period. Dimensional Fund Advisors LP owned 5.20% of MasTec worth $72,238,000 as of its most recent SEC filing.
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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