MasTec Inc. (MTZ) Sets New 12-Month High at $30.85
Shares of MasTec Inc. (NYSE:MTZ) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $30.85 and last traded at $30.78, with a volume of 341,438 shares trading hands. The stock had previously closed at $30.32.
A number of research firms have recently issued reports on MTZ. Zacks Investment Research cut MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Wunderlich boosted their price objective on MasTec from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Canaccord Genuity set a $33.00 price objective on MasTec and gave the company a “buy” rating in a research report on Saturday, August 6th. FBR & Co boosted their price objective on MasTec from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, May 9th. Finally, Avondale Partners restated an “outperform” rating on shares of MasTec in a research report on Thursday, April 21st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus target price of C$27.25.
The firm’s market cap is $2.47 billion. The company has a 50-day moving average price of $25.81 and a 200-day moving average price of $21.53.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ 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. MasTec’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. On average, equities research analysts expect that MasTec Inc. will post $1.58 EPS for the current year.
In other news, COO Robert E. Apple sold 13,739 shares of the stock in a transaction that occurred on Wednesday, June 22nd. The stock was 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 owns 207,306 shares in the company, valued at C$4,927,663.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert E. Apple sold 40,000 shares of the stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of C$23.57, for a total value of C$942,800.00. Following the transaction, the chief operating officer now owns 243,567 shares in the company, valued at approximately C$5,740,874.19. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. King Luther Capital Management Corp purchased a new position in shares of MasTec during the fourth quarter worth $7,450,000. Dimensional Fund Advisors LP raised its position in shares of MasTec by 40.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,156,345 shares of the company’s stock worth $72,238,000 after buying an additional 1,201,540 shares during the period. California Public Employees Retirement System raised its position in shares of MasTec by 3.7% in the fourth quarter. California Public Employees Retirement System now owns 225,800 shares of the company’s stock worth $3,924,000 after buying an additional 8,100 shares during the period. Rhumbline Advisers raised its position in shares of MasTec by 1.8% in the fourth quarter. Rhumbline Advisers now owns 100,517 shares of the company’s stock worth $1,747,000 after buying an additional 1,820 shares during the period. Finally, Russell Frank Co purchased a new position in shares of MasTec during the fourth quarter worth $2,732,000.
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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