Castleark Management LLC bought a new stake in MasTec, Inc. (NYSE:MTZ – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 2,690 shares of the construction company’s stock, valued at approximately $1,119,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of MTZ. Brighton Jones LLC purchased a new stake in shares of MasTec in the fourth quarter valued at approximately $227,000. NewEdge Advisors LLC lifted its holdings in shares of MasTec by 32.6% in 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 period. Sivia Capital Partners LLC bought a new position in shares of MasTec during the 2nd quarter worth $271,000. Northwestern Mutual Wealth Management Co. grew its position in shares of MasTec by 105.2% during 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 increased its stake in shares of MasTec by 793.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,027 shares of the construction company’s stock valued at $175,000 after buying an additional 912 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MTZ has been the subject of a number of research reports. Stifel Nicolaus set a $455.00 price objective on shares of MasTec in a research note on Monday, May 4th. Zacks Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Truist Financial restated a “buy” rating and issued a $428.00 price target (down from $550.00) on shares of MasTec in a report on Monday, August 3rd. UBS Group dropped their price objective on shares of MasTec from $453.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, B. Riley Financial reissued a “buy” rating on shares of MasTec in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, MasTec presently has a consensus rating of “Buy” and an average target price of $427.32.
MasTec Price Performance
Shares of MTZ stock opened at $249.71 on Thursday. MasTec, Inc. has a fifty-two week low of $171.05 and a fifty-two week high of $441.43. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 39.83 and a beta of 1.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. The stock’s 50-day simple moving average is $330.30 and its 200-day simple moving average is $337.78.
MasTec (NYSE:MTZ – Get Free Report) last released its earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company earned $1.49 earnings per share. MasTec’s revenue was up 23.4% on a year-over-year basis. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, equities analysts forecast that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.
Insider Buying and Selling at MasTec
In related news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the sale, the director directly owned 10,816 shares in the company, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 21.40% of the stock is currently owned by insiders.
MasTec 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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