MasTec (NYSE:MTZ) hits a new 1-year high of $113.69

Shares of MasTec, Inc. (NYSE:MTZ – Get Your Free Report ) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $113.69 and last traded at $113.01 with a volume of 372320 shares. Shares previously closed at $112.28.

Analyst upgrades and downgrades

Several research firms have recently issued reports on MTZ. B. Riley upped their price objective on shares of MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Goldman Sachs Group raised their price objective on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Stifel Nicolaus upped their target price on shares of MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup upped their target price on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, DA Davidson boosted their price objective on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.50, based on data from MarketBeat.

See the latest stock analysis on MasTec

MasTec trading up 0.3%

The company’s fifty day simple moving average is $107.57 and its two hundred day simple moving average is $101.84. The company has a market cap of $9.29 billion, a price-to-earnings ratio of -832.79 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27, and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company’s revenue was up 3.0% year over year. In the same period last year, the firm earned $0.81 per share. Research analysts estimate that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Institutional investors intervene on MasTec

Several large investors have recently made changes to their positions in MTZ. Point72 Asia Singapore Pte. Ltd. bought a new position in MasTec in the second quarter valued at about $86,000. Sycomore Asset Management boosted its holdings in shares of MasTec by 59.4% during the second quarter. Sycomore Asset Management now owns 20,620 shares of the construction company’s stock worth $2,240,000 after purchasing an additional 7,683 shares during the last quarter. Creative Planning acquired a new stake in MasTec in the second quarter valued at approximately $284,000. Algert Global LLC boosted its stake in MasTec by 255.6% in the second quarter. Algert Global LLC now owns 49,707 shares of the construction company’s stock valued at $5,318,000 after acquiring an additional 35,727 shares in the last quarter. Finally, Shellback Capital LP purchased a new position in MasTec in the second quarter valued at $8,014,000. Institutional investors own 78.10% of the company’s shares.

MasTec Company Profile

(Get a free report)

MasTec, Inc, an infrastructure construction company, provides engineering, construction, installation, maintenance and upgrade services for communications, energy, utility and other infrastructure, primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Supply and Others.

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