MasTec, Inc. $MTZ Shares Sold by Strs Ohio

Strs Ohio trimmed its position in shares of MasTec, Inc. (NYSE:MTZ) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,527 shares of the construction company’s stock after selling 747 shares during the quarter. Strs Ohio’s holdings in MasTec were worth $1,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MTZ. Goldman Sachs Group Inc. boosted its holdings in MasTec by 163.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock worth $121,843,000 after buying an additional 648,184 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in MasTec by 171.2% during the first quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company’s stock worth $45,607,000 after buying an additional 246,666 shares in the last quarter. AQR Capital Management LLC boosted its holdings in MasTec by 23.6% during the first quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company’s stock worth $106,234,000 after buying an additional 184,277 shares in the last quarter. Nuveen LLC purchased a new stake in MasTec during the first quarter worth about $21,208,000. Finally, Lord Abbett & CO. LLC boosted its holdings in MasTec by 77.8% during the first quarter. Lord Abbett & CO. LLC now owns 307,419 shares of the construction company’s stock worth $35,879,000 after buying an additional 134,493 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Up 1.9%

Shares of NYSE MTZ opened at $199.17 on Thursday. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $224.03. The company has a market capitalization of $15.72 billion, a PE ratio of 58.93 and a beta of 1.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The firm’s 50-day moving average is $200.59 and its two-hundred day moving average is $176.45.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.17. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate 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 quarter 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. Equities analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on MTZ shares. Roth Capital boosted their price objective on shares of MasTec from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Jefferies Financial Group boosted their price objective on shares of MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Wall Street Zen downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 19th. Citigroup upped their price target on shares of MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, UBS Group upped their price target on shares of MasTec from $206.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.44.

Insider Activity at MasTec

In related news, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the transaction, the chief accounting officer owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $190.39, for a total transaction of $571,170.00. Following the transaction, the director directly owned 35,277 shares in the company, valued at $6,716,388.03. The trade was a 7.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,929 shares of company stock valued at $3,394,013. Company insiders own 21.30% of the company’s stock.

MasTec 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.