Hodges Capital Management Inc. Sells 725 Shares of MasTec, Inc. $MTZ

Hodges Capital Management Inc. lowered its stake in MasTec, Inc. (NYSE:MTZ) by 2.6% in the second quarter, HoldingsChannel.com reports. The firm owned 27,028 shares of the construction company’s stock after selling 725 shares during the quarter. Hodges Capital Management Inc.’s holdings in MasTec were worth $4,606,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Forum Financial Management LP boosted its position in MasTec by 3.9% in the 1st quarter. Forum Financial Management LP now owns 2,097 shares of the construction company’s stock valued at $245,000 after buying an additional 78 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of MasTec by 37.1% during the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock valued at $52,000 after acquiring an additional 82 shares during the period. Verdence Capital Advisors LLC boosted its holdings in MasTec by 4.9% in the second quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock valued at $338,000 after acquiring an additional 93 shares during the last quarter. ProShare Advisors LLC increased its position in MasTec by 3.7% in the second quarter. ProShare Advisors LLC now owns 2,717 shares of the construction company’s stock worth $463,000 after purchasing an additional 97 shares during the period. Finally, Securian Asset Management Inc. increased its position in MasTec by 2.2% in the first quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company’s stock worth $551,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Buying and Selling

In other news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction dated 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. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $190.39, for a total value of $571,170.00. Following the transaction, the director owned 35,277 shares of the company’s stock, valued at approximately $6,716,388.03. The trade was a 7.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,929 shares of company stock valued at $3,394,013. Company insiders own 21.30% of the company’s stock.

MasTec Price Performance

NYSE MTZ opened at $200.85 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 59.42 and a beta of 1.88. The business has a 50 day simple moving average of $201.22 and a 200 day simple moving average of $178.07. MasTec, Inc. has a 52-week low of $99.70 and a 52-week high of $224.03.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.17. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. Analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Zacks Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Jefferies Financial Group increased their price objective on shares of MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Robert W. Baird raised their price objective on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Truist Financial upped their target price on shares of MasTec from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. increased their price target on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $229.44.

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.