Pallas Capital Advisors LLC acquired a new position in shares of MasTec, Inc. (NYSE:MTZ – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,511 shares of the construction company’s stock, valued at approximately $3,125,000.
Other institutional investors have also recently made changes to their positions in the company. Gables Capital Management Inc. increased its position in shares of MasTec by 30.3% during the 4th quarter. Gables Capital Management Inc. now owns 21,054 shares of the construction company’s stock valued at $4,577,000 after purchasing an additional 4,900 shares during the last quarter. Swedbank AB boosted its holdings in shares of MasTec by 5.2% in the 4th quarter. Swedbank AB now owns 64,300 shares of the construction company’s stock worth $13,977,000 after buying an additional 3,200 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of MasTec by 463.6% in the 4th quarter. Sanctuary Advisors LLC now owns 13,527 shares of the construction company’s stock worth $2,940,000 after buying an additional 11,127 shares during the last quarter. TFR Capital LLC. bought a new position in MasTec during the second quarter valued at about $1,978,000. Finally, Ameritas Advisory Services LLC increased its holdings in MasTec by 4,223.4% during the fourth quarter. Ameritas Advisory Services LLC now owns 2,767 shares of the construction company’s stock worth $601,000 after buying an additional 2,703 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.
Insider Buying and Selling at MasTec
In other news, Director Ernst N. Csiszar sold 6,500 shares of the firm’s stock in a transaction on 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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 21.40% of the company’s stock.
MasTec Stock Performance
MasTec (NYSE:MTZ – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.01). The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.30 billion. MasTec had a net margin of 3.07% and a return on equity of 18.08%. The business’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 EPS. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. Analysts predict that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. TD Cowen dropped their target price on shares of MasTec from $470.00 to $420.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Guggenheim raised their price target on shares of MasTec from $480.00 to $518.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group lowered their price target on shares of MasTec from $508.00 to $409.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. CICC Research started coverage on MasTec in a research note on Thursday, May 21st. They issued an “outperform” rating and a $480.00 price objective on the stock. Finally, Morgan Stanley set a $369.00 price objective on MasTec in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, MasTec has an average rating of “Buy” and an average target price of $427.32.
Read Our Latest Report 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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