Arkadios Wealth Advisors Takes Position in MasTec, Inc. $MTZ

Arkadios Wealth Advisors purchased a new stake in MasTec, Inc. (NYSE:MTZ) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,661 shares of the construction company’s stock, valued at approximately $794,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in MasTec in the second quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its holdings in shares of MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after buying an additional 192 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of MasTec in the 2nd quarter valued at $49,000. Parallel Advisors LLC increased its position in shares of MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock valued at $52,000 after buying an additional 82 shares in the last quarter. Finally, Rise Advisors LLC raised its stake in MasTec by 24.9% during the 2nd quarter. Rise Advisors LLC now owns 667 shares of the construction company’s stock worth $114,000 after buying an additional 133 shares during the period. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 4.3%

Shares of MTZ stock opened at $204.66 on Monday. 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 firm’s fifty day moving average price is $199.45 and its two-hundred day moving average price is $175.12. The firm has a market capitalization of $16.15 billion, a P/E ratio of 60.55 and a beta of 1.82. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03.

MasTec (NYSE:MTZ) last posted its quarterly earnings results 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. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 earnings per share. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. On average, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Activity

In related news, Director C Robert Campbell sold 2,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the sale, the director owned 33,277 shares in the company, valued at approximately $7,001,148.03. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president directly owned 101,349 shares in the company, valued at $18,312,750.81. This trade represents a 8.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 25,000 shares of company stock valued at $4,803,250. 21.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Baird R W raised MasTec from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Guggenheim reiterated a “neutral” rating and set a $215.00 price objective on shares of MasTec in a report on Wednesday, October 15th. DA Davidson set a $210.00 price objective on MasTec and gave the company a “buy” rating in a research report on Monday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of MasTec in a report on Wednesday, October 8th. Finally, Citigroup lifted their price target on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.89.

MasTec Company 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.