Hodges Capital Management Inc. cut its holdings in MasTec, Inc. (NYSE:MTZ – Free Report) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,076 shares of the construction company’s stock after selling 2,673 shares during the quarter. Hodges Capital Management Inc.’s holdings in MasTec were worth $5,668,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MTZ. Victory Capital Management Inc. lifted its stake in MasTec by 9,550.8% in the third quarter. Victory Capital Management Inc. now owns 946,555 shares of the construction company’s stock worth $201,295,000 after acquiring an additional 936,747 shares during the period. 140 Summer Partners LP purchased a new stake in MasTec in the third quarter worth about $81,514,000. First Trust Advisors LP lifted its stake in MasTec by 52.1% in the third quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock worth $217,529,000 after acquiring an additional 350,228 shares during the period. Merewether Investment Management LP lifted its stake in MasTec by 59.8% in the third quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company’s stock worth $184,557,000 after acquiring an additional 324,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in MasTec by 71.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 732,886 shares of the construction company’s stock worth $155,965,000 after acquiring an additional 304,358 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the transaction, the director owned 30,646 shares in the company, valued at $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ernst N. Csiszar sold 6,500 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the transaction, the director owned 10,816 shares in the company, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,450 shares of company stock worth $3,972,764 over the last 90 days. 21.40% of the stock is currently owned by corporate insiders.
MasTec Stock Performance
MasTec (NYSE:MTZ – Get Free Report) last announced its earnings results on Thursday, April 30th. The construction company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.41. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The firm’s revenue was up 34.5% on a year-over-year basis. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. Research analysts expect that MasTec, Inc. will post 8.51 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on MTZ shares. Wolfe Research reiterated an “outperform” rating and issued a $326.00 target price on shares of MasTec in a report on Monday, March 2nd. KeyCorp boosted their target price on shares of MasTec from $460.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $471.00 to $491.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. CICC Research started coverage on shares of MasTec in a report on Thursday, May 21st. They issued an “outperform” rating and a $480.00 target price for the company. Finally, Cantor Fitzgerald boosted their target price on shares of MasTec from $347.00 to $545.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $459.28.
Check Out Our Latest Analysis on MasTec
MasTec Company Profile
MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.
The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.
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