The Manufacturers Life Insurance Company acquired a new stake in MasTec, Inc. (NYSE:MTZ – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 39,643 shares of the construction company’s stock, valued at approximately $16,494,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Earned Wealth Advisors LLC lifted its stake in shares of MasTec by 2.8% during the first quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company’s stock valued at $326,000 after acquiring an additional 28 shares during the period. Aigen Investment Management LP raised its holdings in MasTec by 3.8% during the 4th quarter. Aigen Investment Management LP now owns 1,041 shares of the construction company’s stock worth $226,000 after purchasing an additional 38 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in MasTec by 5.4% during the 2nd quarter. Everhart Financial Group Inc. now owns 874 shares of the construction company’s stock worth $364,000 after purchasing an additional 45 shares during the last quarter. Motley Fool Asset Management LLC lifted its position in MasTec by 3.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,311 shares of the construction company’s stock valued at $285,000 after purchasing an additional 47 shares during the period. Finally, Williamson Legacy Group LLC boosted its stake in shares of MasTec by 0.9% in the 4th quarter. Williamson Legacy Group LLC now owns 5,961 shares of the construction company’s stock valued at $1,296,000 after purchasing an additional 52 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
MTZ has been the subject of a number of analyst reports. UBS Group decreased their price objective on MasTec from $453.00 to $410.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. TD Cowen dropped their price objective on MasTec from $470.00 to $420.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of MasTec in a research note on Monday, May 4th. Robert W. Baird dropped their price target on MasTec from $475.00 to $363.00 and set an “outperform” rating on the stock in a research note on Monday, August 3rd. Finally, Zacks Research lowered MasTec from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Nineteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus price target of $427.32.
MasTec Trading Down 4.0%
Shares of NYSE:MTZ opened at $241.08 on Friday. MasTec, Inc. has a 52-week low of $171.05 and a 52-week high of $441.43. 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 company has a market capitalization of $19.36 billion, a P/E ratio of 38.45 and a beta of 1.81. The company has a 50-day simple moving average of $324.93 and a 200 day simple moving average of $337.05.
MasTec (NYSE:MTZ – Get Free Report) last announced its quarterly 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). The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.30 billion. MasTec had a net margin of 3.07% and a return on equity of 18.08%. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior 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. Sell-side analysts forecast that MasTec, Inc. will post 8.91 earnings per share for the current year.
Insider Transactions at MasTec
In other MasTec news, 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 transaction of $2,412,605.00. Following the transaction, the director owned 10,816 shares in the company, valued at $4,014,574.72. This represents a 37.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.40% of the stock is owned by corporate insiders.
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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