Exclusive: What’s Propelling MasTec, Inc. to Reach 52-Week High?

Exclusive: What's Propelling MasTec, Inc. to Reach 52 Week High?

The stock of MasTec, Inc. (NYSE:MTZ) hit a new 52-week high and has $39.90 target or 5.00% above today’s $38.00 share price. The 9 months bullish chart indicates low risk for the $3.25 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $39.90 price target is reached, the company will be worth $162.50M 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 807,753 shares traded hands. MasTec, Inc. (NYSE:MTZ) has risen 64.57% since April 28, 2016 and is uptrending. It has outperformed by 58.65% the S&P500.

Analysts await MasTec, Inc. (NYSE:MTZ) to report earnings on February, 23. They expect $0.50 EPS, up 177.78% or $0.32 from last year’s $0.18 per share. MTZ’s profit will be $42.76 million for 19.00 P/E if the $0.50 EPS becomes a reality. After $0.78 actual EPS reported by MasTec, Inc. for the previous quarter, Wall Street now forecasts -35.90% negative EPS growth.

MasTec, Inc. (NYSE:MTZ) Ratings Coverage

Out of 9 analysts covering MasTec (NYSE:MTZ), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. MasTec has been the topic of 14 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Monday, September 21, the company rating was maintained by Stephens. DA Davidson downgraded the shares of MTZ in a report on Wednesday, November 16 to “Neutral” rating. The stock has “Outperform” rating given by FBR Capital on Monday, August 3. On Tuesday, August 25 the stock rating was initiated by Robert W. Baird with “Outperform”. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, January 5. The rating was maintained by FBR Capital on Tuesday, September 1 with “Outperform”. The rating was downgraded by Avondale to “Market Perform” on Friday, November 18. Citigroup initiated the shares of MTZ in a report on Friday, November 13 with “Neutral” rating. The stock has “Buy” rating given by Stifel Nicolaus on Monday, November 14. The stock of MasTec, Inc. (NYSE:MTZ) earned “Buy” rating by Craig Hallum on Thursday, November 12.

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 increased to 1.1 in Q2 2016. Its up 0.14, from 0.96 in 2016Q1. The ratio increased, 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.
Cipher Capital Lp has invested 0.13% of its portfolio in MasTec, Inc. (NYSE:MTZ). Argent Cap Ltd Llc, a Missouri-based fund reported 128,725 shares. The California-based Blackrock Institutional Tru Na has invested 0.01% in MasTec, Inc. (NYSE:MTZ). Ameriprise holds 1.61M shares or 0.02% of its portfolio. Nordea Investment Mgmt Ab has 121,849 shares for 0.01% of their US portfolio. Ubs Asset Mgmt Americas Inc last reported 0% of its portfolio in the stock. Aperio Group Inc Limited Liability owns 18,119 shares or 0% of their US portfolio. Blackrock Grp accumulated 58,511 shares or 0% of the stock. Putnam Lc reported 514,038 shares or 0.03% of all its holdings. Guggenheim Capital Limited Liability Com holds 0% or 12,607 shares in its portfolio. The Montana-based Da Davidson And has invested 0% in MasTec, Inc. (NYSE:MTZ). Tributary Cap Mngmt Limited Liability Corporation accumulated 94,060 shares or 0.31% of the stock. The New Jersey-based State Of New Jersey Common Pension Fund D has invested 0.04% in MasTec, Inc. (NYSE:MTZ). Creative Planning accumulated 0% or 200 shares. Emerald Mutual Fund Advisers Tru, a Pennsylvania-based fund reported 15,575 shares.

Insider Transactions: Since November 14, 2016, the stock had 0 buys, and 1 sale for $352,760 net activity. $352,760 worth of MasTec, Inc. (NYSE:MTZ) shares were sold by Dwyer Robert J.

More news for MasTec, Inc. (NYSE:MTZ) were recently published by: Fool.com, which released: “MasTec, Inc. Stock Up 10% Today: Here’s Why” on November 10, 2016. Prnewswire.com‘s article titled: “MasTec Announces Third Quarter 2016 Results Above Expectations and Increases …” and published on November 03, 2016 is yet another important article.

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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