Moors & Cabot Inc. Lowers Position in MasTec, Inc. $MTZ

Moors & Cabot Inc. trimmed its position in shares of MasTec, Inc. (NYSE:MTZ) by 70.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,725 shares of the construction company’s stock after selling 6,650 shares during the quarter. Moors & Cabot Inc.’s holdings in MasTec were worth $464,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Forum Financial Management LP grew its position in MasTec by 3.9% during the first quarter. Forum Financial Management LP now owns 2,097 shares of the construction company’s stock valued at $245,000 after buying an additional 78 shares during the period. Parallel Advisors LLC raised its position in shares of MasTec by 37.1% in the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after acquiring an additional 82 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of MasTec by 4.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock worth $338,000 after acquiring an additional 93 shares in the last quarter. Securian Asset Management Inc. grew its position in shares of MasTec by 2.2% during the 1st quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company’s stock valued at $551,000 after acquiring an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of MasTec by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company’s stock valued at $2,007,000 after acquiring an additional 100 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $190.39, for a total value of $571,170.00. Following the completion of the sale, the director owned 35,277 shares in the company, valued at approximately $6,716,388.03. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Timothy Michael Love sold 1,929 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the transaction, the chief accounting officer directly owned 9,757 shares in the company, valued at $2,011,405.55. This trade represents a 16.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,929 shares of company stock valued at $3,394,013. Corporate insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $200.85 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03. The firm has a market capitalization of $15.85 billion, a PE ratio of 59.42 and a beta of 1.88. The business’s 50 day moving average price is $201.22 and its 200-day moving average price is $177.66.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on MTZ. Wall Street Zen downgraded MasTec from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 19th. TD Cowen increased their target price on MasTec from $175.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Roth Capital lifted their price target on shares of MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Baird R W raised shares of MasTec from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Finally, Citigroup increased their price objective on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.44.

MasTec 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.