MasTec shares fall 8.2% intraday after hitting all-time high, sparking profit-taking and valuation concerns.

MasTec Inc. fell 8.20% intraday after shares gapped down to $232.49 on Feb 4, reaching an intraday low of $231.67. The decline followed a sharp pullback from its 52-week high of $252.23, despite recent analyst upgrades and a premium valuation. While analyst firms like Cantor Fitzgerald and Jefferies maintained bullish ratings, the selloff may reflect profit-taking after the stock’s 81.2% surge over the prior year, combined with concerns about its elevated P/E ratio of 58.73 and trading above estimated fair value. The drop also occurred amid broader market volatility, though no specific earnings report or adverse news triggered the move, suggesting a technical correction rather than fundamental deterioration.