MasTec, Inc. $MTZ Stake Reduced by Savant Capital LLC

Savant Capital LLC cut its stake in MasTec, Inc. (NYSE:MTZ) by 30.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,069 shares of the construction company’s stock after selling 8,416 shares during the period. Savant Capital LLC’s holdings in MasTec were worth $3,250,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Baird R W raised MasTec from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. UBS Group increased their price target on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Wall Street Zen lowered MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Wolfe Research raised shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Wednesday, September 17th. Finally, Zacks Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Two 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.44.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $190.39, for a total value of $571,170.00. Following the transaction, the director owned 35,277 shares of the company’s stock, valued at approximately $6,716,388.03. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the sale, the chief operating officer directly 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 have sold 16,929 shares of company stock worth $3,394,013. 21.30% of the stock is owned by insiders.

MasTec Price Performance

Shares of MasTec stock opened at $200.85 on Monday. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $224.03. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The stock has a market cap of $15.85 billion, a PE ratio of 59.42 and a beta of 1.88. The company’s 50-day moving average price is $201.22 and its two-hundred day moving average price is $178.07.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.17. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the company posted $1.63 EPS. The business’s revenue was up 22.0% compared to the same quarter last year. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. As a group, sell-side analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

MasTec 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.