California State Teachers Retirement System increased its stake in shares of MasTec, Inc. (NYSE:MTZ – Free Report) by 50,879.4% during the 2nd quarter, Holdings Channel reports. The fund owned 37,216,983 shares of the construction company’s stock after purchasing an additional 37,143,979 shares during the quarter. California State Teachers Retirement System owned approximately 0.46% of MasTec worth $15,484,498,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in MasTec during the fourth quarter worth $227,000. NewEdge Advisors LLC increased its position in shares of MasTec by 32.6% in the first quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after buying an additional 1,083 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of MasTec during the 2nd quarter worth approximately $271,000. Northwestern Mutual Wealth Management Co. raised its stake 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 during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of MasTec by 793.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,027 shares of the construction company’s stock valued at $175,000 after acquiring an additional 912 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. KeyCorp lowered their price target on shares of MasTec from $500.00 to $371.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on MasTec from $471.00 to $491.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. UBS Group cut 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. Robert W. Baird lowered their price objective 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, The Goldman Sachs Group cut their target price on MasTec from $508.00 to $409.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Nineteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average target price of $427.32.
MasTec Stock Performance
MasTec stock opened at $236.81 on Tuesday. The firm has a 50 day simple moving average of $305.02 and a 200-day simple moving average of $336.32. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 37.77 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.40 and a quick ratio of 1.37. MasTec, Inc. has a 1-year low of $171.05 and a 1-year high of $441.43.
MasTec (NYSE:MTZ – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 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 analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm posted $1.49 EPS. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. On average, analysts expect that MasTec, Inc. will post 8.91 EPS for the current year.
About MasTec
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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