On Tuesday, infrastructure construction company MasTec (MTZ) hit its 44th 52-week high of the past 12 months. It was one of 49 stocks hitting 52-week highs yesterday. That compares to 37 lows.
At first glance, a stock hitting its 44th 52-week high would appear to have a stretched valuation. However, before you brand MTZ stock as uninvestable because it's run too far in the past 12 months, consider that out of 171 stocks trading on NASDAQ and NYSE with market caps of $10 billion or more, that have hit 52-week highs in the past year on 40 or more occasions, MasTec is 132nd, about the half the number of Targa Resources (TRGP), which has 85 52-week highs.
