Principal Financial Group Inc. reduced its position in MasTec, Inc. (NYSE:MTZ – Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,151 shares of the construction company’s stock after selling 13,050 shares during the period. Principal Financial Group Inc.’s holdings in MasTec were worth $44,127,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in MasTec in the fourth quarter valued at $227,000. NewEdge Advisors LLC raised its stake in shares of MasTec by 32.6% during the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock worth $514,000 after buying an additional 1,083 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of MasTec in the 2nd quarter worth about $271,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of MasTec by 105.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company’s stock worth $61,000 after buying an additional 182 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in MasTec by 793.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,027 shares of the construction company’s stock valued at $175,000 after acquiring an additional 912 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have issued reports on MTZ. Cantor Fitzgerald lifted their target price on shares of MasTec from $545.00 to $581.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. UBS Group lifted their price objective on MasTec from $420.00 to $453.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Stifel Nicolaus set a $455.00 price target on MasTec in a report on Monday, May 4th. The Goldman Sachs Group increased their price objective on MasTec from $348.00 to $487.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Robert W. Baird boosted their target price on shares of MasTec from $473.00 to $475.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Nineteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MasTec has a consensus rating of “Moderate Buy” and an average target price of $464.78.
MasTec Price Performance
MTZ opened at $329.68 on Friday. MasTec, Inc. has a twelve month low of $160.08 and a twelve month high of $441.43. The firm has a market cap of $26.05 billion, a price-to-earnings ratio of 57.74 and a beta of 1.77. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $381.05 and a 200 day simple moving average of $326.07.
MasTec (NYSE:MTZ – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, beating 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 company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter 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. Equities research analysts expect that MasTec, Inc. will post 9.18 EPS for the current fiscal year.
Insider Buying and Selling
In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’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 value of $1,251,000.00. Following the transaction, the director directly owned 30,646 shares of the company’s stock, valued at $12,779,382. This represents a 8.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction that occurred on 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 transaction, the director owned 10,816 shares of the company’s stock, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 21.40% of the stock is owned by company insiders.
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.
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