140 Summer Partners LP Sells 8,789 Shares of MasTec, Inc. $MTZ

Key Points

• 140 Summer Partners LP trimmed its MasTec stake by 2.3% in the fourth quarter, selling 8,789 shares and still holding 374,249 shares valued at about $81.35 million.
• Insiders have also been selling, with directors C. Robert Campbell and Ernst N. Csiszar unloading shares over the past few months; insiders sold 10,450 shares total in the last 90 days.
• Analysts remain bullish on MasTec, with a consensus “Buy” rating and an average price target of $459.28 after several firms raised their targets. The company also recently beat earnings and revenue expectations, posting $1.39 EPS on $3.83 billion in revenue.

140 Summer Partners LP lessened its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 374,249 shares of the construction company's stock after selling 8,789 shares during the quarter. MasTec accounts for 6.0% of 140 Summer Partners LP's investment portfolio, making the stock its 6th biggest position. 140 Summer Partners LP owned 0.47% of MasTec worth $81,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of MasTec in the fourth quarter worth about $30,000. CIBC Private Wealth Group LLC lifted its stake in shares of MasTec by 372.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company's stock worth $51,000 after acquiring an additional 186 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of MasTec by 105.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company's stock worth $61,000 after acquiring an additional 182 shares in the last quarter. CI Investments Inc. lifted its stake in shares of MasTec by 39.9% in the third quarter. CI Investments Inc. now owns 319 shares of the construction company's stock worth $68,000 after acquiring an additional 91 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of MasTec by 102.6% in the fourth quarter. Covestor Ltd now owns 314 shares of the construction company's stock worth $68,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $417.00, for a total value of $1,251,000.00. Following the completion of the sale, the director directly owned 30,646 shares in the company, valued at $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ernst N. Csiszar sold 6,500 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the sale, the director owned 10,816 shares of the company's stock, valued at $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,450 shares of company stock worth $3,972,764 over the last ninety days. Company insiders own 21.40% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on MTZ. Citigroup boosted their price target on MasTec from $440.00 to $483.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. DA Davidson boosted their price target on MasTec from $250.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Zacks Research raised MasTec from a "hold" rating to a "strong-buy" rating in a report on Friday, May 29th. Barclays boosted their price objective on MasTec from $260.00 to $340.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Finally, KeyCorp boosted their price objective on MasTec from $460.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $459.28.

MasTec Stock Down 0.6%

NYSE:MTZ opened at $369.44 on Wednesday. The firm has a market capitalization of $29.19 billion, a PE ratio of 64.70 and a beta of 1.78. The stock has a 50 day moving average of $379.62 and a 200-day moving average of $300.80. MasTec, Inc. has a 52 week low of $159.98 and a 52 week high of $441.43. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.41. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.47 billion. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The business's revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. Analysts predict that MasTec, Inc. will post 8.51 EPS for the current year.

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.

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