Los Angeles Capital Management LLC Buys 18,516 Shares of MasTec, Inc. $MTZ

Los Angeles Capital Management LLC grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 45.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,823 shares of the construction company’s stock after acquiring an additional 18,516 shares during the period. Los Angeles Capital Management LLC owned 0.07% of MasTec worth $10,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MTZ. Ameritas Advisory Services LLC acquired a new stake in MasTec during the 2nd quarter worth approximately $35,000. Farther Finance Advisors LLC increased its position in MasTec by 228.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock worth $47,000 after buying an additional 192 shares during the period. Cullen Frost Bankers Inc. bought a new position in MasTec during the 2nd quarter worth $49,000. Parallel Advisors LLC lifted its holdings in shares of MasTec by 37.1% during the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after buying an additional 82 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of MasTec by 16.3% in the first quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company’s stock valued at $87,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $190.39, for a total value of $571,170.00. Following the sale, the director directly owned 35,277 shares in the company, valued at approximately $6,716,388.03. This trade represents a 7.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the transaction, the chief operating officer owned 184,249 shares of the company’s stock, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,929 shares of company stock valued at $3,394,013. 21.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MTZ shares. TD Cowen raised their price target on shares of MasTec from $175.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Guggenheim restated a “neutral” rating and set a $215.00 target price on shares of MasTec in a research report on Wednesday, October 15th. Zacks Research downgraded shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Robert W. Baird boosted their price target on MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Citigroup raised their price objective on MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $229.44.

MasTec Stock Up 2.1%

NYSE MTZ opened at $200.85 on Monday. The business has a fifty day moving average price of $201.22 and a two-hundred day moving average price of $178.07. The stock has a market capitalization of $15.85 billion, a PE ratio of 59.42 and a beta of 1.88. MasTec, Inc. has a fifty-two week low of $99.70 and a fifty-two week high of $224.03. 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 (NYSE:MTZ) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.17. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.90 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.MasTec’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 EPS. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. Equities analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

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.