MasTec Inc. (MTZ) Reaches New 12-Month High at $30.92
MasTec Inc. (NYSE:MTZ) shares reached 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 traded. The stock had previously closed at $30.86.
Several research analysts have recently commented on the company. Canaccord Genuity set a $33.00 price target on MasTec and gave the stock a “buy” rating in a research report on Saturday, August 6th. FBR & Co restated a “buy” rating on shares of MasTec in a research note on Tuesday, May 10th. Citigroup Inc. boosted their target price on MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Robert W. Baird began coverage on MasTec in a research note on Thursday. They set a “neutral” rating and a $16.00 target price on the stock. Finally, Maxim Group boosted their target price on MasTec from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$27.25.
The company’s market cap is $2.44 billion. The company has a 50 day moving average price of $26.81 and a 200 day moving average price of $22.09.
MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.14. The company earned $1.23 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. Analysts expect that MasTec Inc. will post $1.58 EPS for the current fiscal year.
In other news, COO Robert E. Apple sold 40,000 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 243,567 shares in the company, valued at C$5,740,874.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of C$326,576.03. Following the completion of the sale, 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.
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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