MasTec Inc. (MTZ) Reaches 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 stock traded as high as $30.85 and last traded at $30.78, with a volume of 341,438 shares traded. The stock had previously closed at $30.32.
Several analysts have issued reports on MTZ shares. Maxim Group raised their price target on shares of MasTec from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, May 9th. Canaccord Genuity reiterated a “buy” rating on shares of MasTec in a research report on Sunday, May 8th. FBR & Co reiterated a “buy” rating on shares of MasTec in a research report on Tuesday, May 10th. Wunderlich lifted their target price on shares of MasTec from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, Zacks Investment Research lowered shares of MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Four research 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. The company has a consensus rating of “Buy” and an average price target of C$27.25.
The firm has a 50-day moving average price of $26.03 and a 200 day moving average price of $21.64. The company’s market capitalization is $2.43 billion.
MasTec (NYSE:MTZ) last issued 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 company earned $1.23 billion during the quarter, compared to the consensus estimate of $1.16 billion. MasTec’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, analysts anticipate that MasTec Inc. will post $1.58 EPS for the current year.
In related news, COO Robert E. Apple sold 40,000 shares of the company’s stock in a transaction dated Monday, June 20th. The shares were 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 directly owns 243,567 shares in the company, valued at C$5,740,874.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 13,739 shares of the company’s stock in a transaction dated 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 owns 207,306 shares in the company, valued at C$4,927,663.62. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in MTZ. Dimensional Fund Advisors LP increased its position in MasTec by 40.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,156,345 shares of the company’s stock valued at $72,238,000 after buying an additional 1,201,540 shares during the period. California Public Employees Retirement System increased its stake 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 last quarter. Finally, Russell Frank Co purchased a new stake in shares of MasTec during the fourth quarter worth about $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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