Moors & Cabot Inc. Trims Position in MasTec, Inc. $MTZ

Moors & Cabot Inc. lowered its position in MasTec, Inc. (NYSE:MTZ) by 70.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,725 shares of the construction company’s stock after selling 6,650 shares during the quarter. Moors & Cabot Inc.’s holdings in MasTec were worth $464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of MasTec in the 4th quarter valued at approximately $227,000. Bank of New York Mellon Corp lifted its holdings in MasTec by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company’s stock valued at $65,440,000 after acquiring an additional 4,024 shares during the last quarter. Envestnet Asset Management Inc. grew its position in MasTec by 32.2% in the first quarter. Envestnet Asset Management Inc. now owns 45,736 shares of the construction company’s stock worth $5,338,000 after acquiring an additional 11,143 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in MasTec during the first quarter worth $334,000. Finally, Stratos Wealth Partners LTD. raised its position in MasTec by 71.7% in the first quarter. Stratos Wealth Partners LTD. now owns 2,626 shares of the construction company’s stock valued at $307,000 after purchasing an additional 1,097 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Up 2.1%

Shares of MTZ opened at $200.85 on Friday. The company’s 50-day simple moving average is $201.22 and its 200-day simple moving average is $177.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03. The stock has a market capitalization of $15.85 billion, a PE ratio of 59.42 and a beta of 1.88.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, October 30th. The construction company reported $2.48 earnings per share 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 the consensus estimate of $3.90 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. Analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTZ. Robert W. Baird increased their price target on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. TD Cowen upped their target price on shares of MasTec from $175.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, August 4th. KeyCorp increased their target price on shares of MasTec from $236.00 to $246.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Wall Street Zen downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 19th. Finally, Guggenheim restated a “neutral” rating and issued a $215.00 price objective on shares of MasTec in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.44.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the transaction, the chief operating officer directly owned 184,249 shares of the company’s stock, valued at $36,930,869.56. The trade was a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Timothy Michael Love sold 1,929 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the sale, the chief accounting officer owned 9,757 shares in the company, valued at approximately $2,011,405.55. This trade represents a 16.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,929 shares of company stock valued at $3,394,013. 21.30% of the stock is currently owned by company insiders.

About MasTec

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.