Mastec Inc. (NYSE: MTZ) stock jumped 2.94% on Monday to $54.94 against a previous-day closing price of $53.37. With 1.04 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.08 million shares. During the session, the Engineering & Construction company that operates in wider Industrials sector, reached to the highest price of $55.34 whereas the lowest price it dropped to was $52.88. The 52-week range on MTZ shows that it touched its highest point at $123.33 and its lowest point at $44.65 during that stretch. It currently has a 1-year price target of $65.27. Beta for the stock currently stands at 1.48.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MTZ was up-trending over the past week, with a rise of 11.89%, but this was down by -10.17% over a month. Three-month performance dropped to -43.37% while six-month performance fell -43.90%. The stock lost -40.00% in the past year, while it has lost -35.61% so far this year. A look at the trailing 12-month EPS for MTZ yields -0.65 with Next year EPS estimates of 2.64. For the next quarter, that number is 0.45. This implies an EPS growth rate of -42.11% for this year and 49.75% for next year. EPS is expected to grow by 13.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -37.09%.
Float and Shares Shorts:
At present, 78.68 million MTZ shares are outstanding with a float of 60.71 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.57 million, which was 4.52% higher than short shares on Sep 28, 2023. In addition to HTZ as the firm’s Hertz Global Holdings, Inc, MTB serves as its M&T Bank Corporation.
Through their ownership of 80.09% of MTZ’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.08% of MTZ, in contrast to 37.94% held by mutual funds. Shares owned by individuals account for 31.46%. As the largest shareholder in MTZ with 7.46% of the stake, The Vanguard Group, Inc. holds 5,882,482 shares worth 5,882,482. A second-largest stockholder of MTZ, BlackRock Fund Advisors, holds 4,899,426 shares, controlling over 6.21% of the firm’s shares. Allspring Global Investments LLC is the third largest shareholder in MTZ, holding 3,639,632 shares or 4.62% stake. With a 3.90% stake in MTZ, the Allspring Special Mid Cap Value F is the largest stakeholder. A total of 3,072,200 shares are owned by the mutual fund manager. The Nordea 1 – Global Climate & Envir, which owns about 2.83% of MTZ stock, is the second-largest Mutual Fund holder. It holds 2,231,032 shares valued at 132.61 million. Vanguard Total Stock Market ETF holds 2.52% of the stake in MTZ, owning 1,985,327 shares worth 118.01 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MTZ since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MTZ analysts setting a high price target of $89.00 and a low target of $50.00, the average target price over the next 12 months is $65.27. Based on these targets, MTZ could surge 61.99% to reach the target high and fall by -8.99% to reach the target low. Reaching the average price target will result in a growth of 18.8% from current levels.
Summary of Insider Activity:
Insiders traded MTZ stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 2,427 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 196,322 while 153,645 shares were sold.