MasTec Inc. (MTZ): Today's Featured Industrial Goods Winner
MasTec (MTZ) pushed the Industrial Goods sector higher today making it today's featured industrial goods winner. The sector as a whole closed the day down 1.9%. By the end of trading, MasTec rose $1.06 (6.3%) to $17.75 on heavy volume. Throughout the day, two million shares of MasTec exchanged hands as compared to its average daily volume of 764,500 shares. The stock ranged in a price between $16.75-$18.28 after having opened the day at $16.76 as compared to the previous trading day's close of $16.69. Other companies within the Industrial Goods sector that increased today were: China Development Group Corporation (CTDC), up 15.8%, Wuhan General Group (WUHN), up 11%, Mohawk Industries (MHK), up 7.3%, and United States Lime & Minerals (USLM), up 5.8%. MasTec, Inc., an infrastructure construction company, engages in engineering, building, installing, maintaining, and upgrading energy, communication, and utility infrastructure in North America. MasTec has a market cap of $1.38 billion and is part of the materials & construction industry. The company has a P/E ratio of 13.9, equal to the average materials & construction industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 1.4% year to date as of the close of trading on Thursday. Currently there are six analysts that rate MasTec a buy, no analysts rate it a sell, and two rate it a hold. TheStreet Ratings rates MasTec as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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