Spire Wealth Management Trims Holdings in MasTec, Inc. $MTZ

Spire Wealth Management decreased its holdings in MasTec, Inc. (NYSE:MTZ) by 70.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,557 shares of the construction company’s stock after selling 6,006 shares during the quarter. Spire Wealth Management’s holdings in MasTec were worth $436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in MasTec in the 2nd quarter valued at $35,000. Farther Finance Advisors LLC raised its position in MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after purchasing an additional 192 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in MasTec in the 2nd quarter valued at $49,000. Parallel Advisors LLC raised its position in MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock valued at $52,000 after purchasing an additional 82 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in MasTec by 16.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company’s stock valued at $87,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 4.3%

Shares of NYSE MTZ opened at $204.66 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $224.03. The firm has a 50-day moving average price of $199.45 and a 200 day moving average price of $175.12. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 60.55 and a beta of 1.82.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.31 by $0.17. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. Equities research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MTZ has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of MasTec in a research note on Wednesday, October 8th. Zacks Research downgraded shares of MasTec from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Stifel Nicolaus lifted their target price on shares of MasTec from $198.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Wolfe Research raised shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a report on Wednesday, September 17th. Finally, TD Cowen lifted their target price on shares of MasTec from $175.00 to $195.00 and gave the company a “buy” rating in a report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $221.89.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the sale, the chief operating officer owned 184,249 shares in the company, valued at $36,930,869.56. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the completion of the sale, the director owned 33,277 shares of the company’s stock, valued at $7,001,148.03. This trade represents a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 25,000 shares of company stock worth $4,803,250 over the last 90 days. Company insiders own 21.30% of the company’s stock.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.