Zacks Research cut shares of MasTec (NYSE:MTZ – Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.
A number of other brokerages also recently issued reports on MTZ. Jefferies Financial Group reiterated a “buy” rating and issued a $493.00 price target on shares of MasTec in a report on Monday, May 4th. TD Cowen upped their target price on shares of MasTec from $320.00 to $445.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Guggenheim raised shares of MasTec from a “neutral” rating to a “buy” rating and set a $480.00 target price for the company in a report on Wednesday, May 13th. The Goldman Sachs Group lifted their price target on shares of MasTec from $348.00 to $487.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Citigroup upped their price target on MasTec from $440.00 to $483.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Nineteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $459.28.
View Our Latest Analysis on MasTec
MasTec Stock Down 3.0%
MasTec (NYSE:MTZ – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. MasTec’s revenue was up 34.5% compared to the same quarter last year. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. On average, sell-side analysts predict that MasTec will post 8.5 EPS for the current fiscal year.
Insider Activity
In other MasTec news, 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 value of $2,412,605.00. Following the sale, the director owned 10,816 shares of the company’s stock, valued at $4,014,574.72. This represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the transaction, the director directly owned 30,646 shares of the company’s stock, valued at approximately $12,779,382. This trade represents a 8.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 21.40% of the stock is owned by corporate insiders.
Institutional Trading of MasTec
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in MasTec by 178.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock worth $573,304,000 after purchasing an additional 1,690,896 shares in the last quarter. Peconic Partners LLC boosted its stake in shares of MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock worth $347,792,000 after purchasing an additional 850,000 shares during the last quarter. Coatue Management LLC acquired a new stake in shares of MasTec during the 4th quarter worth about $147,357,000. 140 Summer Partners LP purchased a new stake in shares of MasTec during the third quarter worth about $81,514,000. Finally, First Trust Advisors LP grew its holdings in shares of MasTec by 52.1% during the third quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock worth $217,529,000 after buying an additional 350,228 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
About MasTec
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.
Recommended Stories
- Five stocks we like better than MasTec
- Burger King’s Turnaround Is Putting Restaurant Brands Back in Focus
- Short Squeeze Alert—Moderna Stock Surges on New Strategy
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.
