Lazard Asset Management LLC Cuts Stake in MasTec, Inc. $MTZ

Lazard Asset Management LLC reduced its position in shares of MasTec, Inc. (NYSE:MTZ) by 82.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,066 shares of the construction company’s stock after selling 55,290 shares during the quarter. Lazard Asset Management LLC’s holdings in MasTec were worth $3,882,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MTZ. Victory Capital Management Inc. grew its holdings in shares of MasTec by 178.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after buying an additional 1,690,896 shares during the last quarter. Peconic Partners LLC raised its holdings in MasTec by 113.3% in the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock worth $347,792,000 after acquiring an additional 850,000 shares during the last quarter. Coatue Management LLC bought a new position in MasTec in the 4th quarter valued at approximately $147,357,000. Merewether Investment Management LP lifted its position in MasTec by 59.8% in the 3rd quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company’s stock valued at $184,557,000 after acquiring an additional 324,500 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in MasTec by 71.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,886 shares of the construction company’s stock valued at $155,965,000 after purchasing an additional 304,358 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of MTZ opened at $263.51 on Friday. The firm has a market cap of $20.82 billion, a PE ratio of 42.03 and a beta of 1.77. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $365.55 and a two-hundred day simple moving average of $333.18. MasTec, Inc. has a 1-year low of $160.08 and a 1-year high of $441.43.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.01). The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.30 billion. MasTec had a net margin of 3.07% and a return on equity of 18.47%. MasTec’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. 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, equities analysts anticipate that MasTec, Inc. will post 9.18 EPS for the current year.

Analyst Upgrades and Downgrades

MTZ has been the subject of a number of research analyst reports. Morgan Stanley set a $369.00 target price on MasTec in a report on Friday. Zacks Research raised MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday. KeyCorp increased their price objective on MasTec from $460.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. UBS Group lifted their price objective on MasTec from $420.00 to $453.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Citigroup boosted their target price on MasTec from $440.00 to $483.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $461.74.

Key Headlines Impacting MasTec

Here are the key news stories impacting MasTec this week:

• Positive Sentiment: MasTec reported second-quarter revenue of $4.37 billion, up 23.4% year over year and above the approximately $4.30 billion consensus estimate. EPS increased to $2.22 from $1.49 a year earlier. Management also highlighted broad-based growth, margin expansion and backlog development. MasTec Reports Second Quarter 2026 Results and Updates Full Year 2026 Financial Guidance
• Positive Sentiment: The company’s adjusted EBITDA margin improved by 100 basis points, while third-quarter guidance calls for $4.9 billion in revenue and $2.98 EPS. Full-year 2026 guidance of $18.2 billion in revenue and $9.30 EPS is above current analyst consensus. MasTec 2026 Q2 Results Presentation
• Neutral Sentiment: MasTec appointed Alex Spiro to its board. His experience advising large companies on governance, regulatory and strategic matters may support the company’s oversight, but the appointment is unlikely to materially affect near-term earnings. MasTec Announces Alex Spiro Board Appointment
• Negative Sentiment: The earnings result was mixed: EPS narrowly missed the broader consensus estimate of $2.23, even though it exceeded the Zacks estimate of $2.19. Investors appear to be looking beyond the headline revenue beat and questioning the quality or sustainability of the outlook. MasTec Q2 Key Metrics
• Negative Sentiment: Market coverage characterized the updated guidance as a cut relative to prior expectations, overshadowing the record quarter. This concern about forward growth expectations appears to be the primary reason MTZ moved lower despite year-over-year gains and guidance above consensus. MasTec Falls After Guidance Cut

Insiders Place Their Bets

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the completion of the sale, the director owned 30,646 shares in the company, valued at approximately $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the transaction, the director directly owned 10,816 shares in the company, valued at approximately $4,014,574.72. This represents a 37.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 21.40% of the stock is currently owned by corporate insiders.

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.