Empowered Funds LLC bought a new stake in shares of MasTec, Inc. (NYSE:MTZ – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm bought 23,617 shares of the construction company’s stock, valued at approximately $9,826,000.
Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of MasTec in the second quarter worth about $3,178,069,000. Victory Capital Management Inc. grew its stake in shares of MasTec by 178.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after buying an additional 1,690,896 shares in the last quarter. Hill City Capital LP purchased a new stake in shares of MasTec during the 2nd quarter valued at about $896,609,300. Peconic Partners LLC lifted its position in MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock worth $347,792,000 after acquiring an additional 850,000 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in MasTec by 7.6% during the 1st quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company’s stock worth $454,163,000 after acquiring an additional 100,151 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have issued reports on MTZ. Guggenheim increased their price objective on shares of MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Cantor Fitzgerald boosted their price target on MasTec from $545.00 to $581.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. UBS Group reduced their price target on MasTec from $453.00 to $410.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Zacks Research lowered MasTec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Mizuho cut their price target on shares of MasTec from $502.00 to $457.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. Nineteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $427.32.
Insiders Place Their Bets
In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of the 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 directly owned 10,816 shares of the company’s stock, valued at approximately $4,014,574.72. This represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.40% of the stock is currently owned by insiders.
MasTec Price Performance
Shares of MTZ opened at $241.08 on Friday. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 38.45 and a beta of 1.81. The stock has a 50 day moving average of $324.93 and a 200-day moving average of $337.05. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71. MasTec, Inc. has a 52 week low of $171.05 and a 52 week high of $441.43.
MasTec (NYSE:MTZ – Get Free Report) last posted 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). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company posted $1.49 earnings per share. The business’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, analysts forecast that MasTec, Inc. will post 8.91 EPS for the current year.
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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