Stock On Watch: How Analysts Feel About MasTec, Inc. After Reaching 52-Week High?

Stock On Watch: How Analysts Feel About MasTec, Inc. After Reaching 52 Week High?

The stock of MasTec, Inc. (NYSE:MTZ) hit a new 52-week high and has $42.21 target or 34.00% above today’s $31.50 share price. The 8 months bullish chart indicates low risk for the $2.60 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $42.21 price target is reached, the company will be worth $884.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 509,682 shares traded hands. MasTec, Inc. (NYSE:MTZ) has risen 46.54% since April 7, 2016 and is uptrending. It has outperformed by 41.76% the S&P500.

MasTec, Inc. (NYSE:MTZ) Ratings Coverage

Out of 8 analysts covering MasTec (NYSE:MTZ), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. MasTec has been the topic of 11 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of MasTec, Inc. (NYSE:MTZ) earned “Neutral” rating by Citigroup on Friday, November 13. The firm earned “Buy” rating on Tuesday, January 5 by Stifel Nicolaus. The stock has “Outperform” rating given by FBR Capital on Tuesday, September 1. On Monday, August 3 the stock rating was maintained by FBR Capital with “Outperform”. As per Tuesday, August 25, the company rating was initiated by Robert W. Baird. The company was downgraded on Tuesday, August 4 by Zacks. The stock has “Buy” rating given by Stephens on Monday, September 21. The firm has “Buy” rating given on Thursday, November 12 by Craig Hallum.

According to Zacks Investment Research, “MASTEC INC. is one of the largest providers of construction services to the telecommunications industry in the United States. The Company’s principal business consists of the installation and maintenance of aerial, underground and buried copper and fiber optic cable, underground conduit, manhole systems and relatessed construction for local telephone companies, including Regional Bell Operating Companies such as BellSouth Telecommunications, Inc., U.S. West, Inc. and SBC Communications, Inc., and non-Bell local telephone companies such as Sprint Corp., and GTE Corp.”

Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.51, from 1.47 in 2016Q1. The ratio turned negative, as 23 funds sold all MasTec, Inc. shares owned while 68 reduced positions. 35 funds bought stakes while 52 increased positions. They now own 57.23 million shares or 0.83% less from 57.71 million shares in 2016Q1.
Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mngmt Corp holds 0.01% of its portfolio in MasTec, Inc. (NYSE:MTZ) for 34,720 shares. Bridgeway Management Inc holds 0.06% of its portfolio in MasTec, Inc. (NYSE:MTZ) for 168,050 shares. Us State Bank De holds 0% or 39,245 shares in its portfolio. Arrowstreet Cap Limited Partnership has 0.01% invested in the company for 123,599 shares. Id A S holds 3,000 shares or 0.02% of its portfolio. Hbk Investments L P, a Texas-based fund reported 37,900 shares. Spark Investment holds 71,400 shares or 0.15% of its portfolio. Allianz Asset Mngmt Ag holds 0.01% of its portfolio in MasTec, Inc. (NYSE:MTZ) for 866,376 shares. The New York-based Cornerstone Capital Lc has invested 0.02% in MasTec, Inc. (NYSE:MTZ). Jane Street Group Ltd Limited Liability Company owns 14,315 shares or 0% of their US portfolio. Sg Capital Mngmt Ltd has 4.24% invested in the company for 772,688 shares. Argent Mngmt Lc holds 0.13% or 128,725 shares in its portfolio. Emerald Advisers Pa last reported 0.04% of its portfolio in the stock. Creative Planning reported 200 shares or 0% of all its holdings. Moreover, Qs Investors Limited Liability Company has 0% invested in MasTec, Inc. (NYSE:MTZ) for 51 shares.

More notable recent MasTec, Inc. (NYSE:MTZ) news were published by: Prnewswire.com which released: “MasTec Announces Third Quarter 2016 Results Above Expectations and Increases …” on November 03, 2016, also Prnewswire.com with their article: “MasTec Schedules Third Quarter 2016 Earnings Release and Conference Call” published on October 24, 2016, Fool.com published: “Why MasTec, Inc. Shares Plunged Today” on February 08, 2016. More interesting news about MasTec, Inc. (NYSE:MTZ) were released by: Fool.com and their article: “MasTec, Inc. Stock up 13% on Earnings Results, Strong Backlog” published on February 26, 2016 as well as Fool.com‘s news article titled: “Oil and Gas Fuel MasTec, Inc.’s Strong Q2 Earnings” with publication date: August 05, 2016.

MTZ Company Profile

MasTec, Inc., incorporated on April 8, 1998, is an infrastructure construction company. The Firm operates primarily across North America through a range of industries. The Company’s 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. The Firm manages its activities under five operating divisions: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. The Firm offers its services primarily under the MasTec service mark and has activities across approximately 470 locations. It provides services under master service and other service agreements, which are generally multi-year agreements. It offers its service offerings in markets, including wireless services; natural gas, natural gas liquids and petroleum pipeline, and electrical transmission.

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