70,661 Shares in MasTec, Inc. $MTZ Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 70,661 shares of the construction company's stock, valued at approximately $29,399,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of MasTec at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of MasTec by 178.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company's stock valued at $573,304,000 after purchasing an additional 1,690,896 shares in the last quarter. Peconic Partners LLC increased its position in shares of MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company's stock worth $347,792,000 after purchasing an additional 850,000 shares in the last quarter. Coatue Management LLC acquired a new stake in shares of MasTec during the 4th quarter worth about $147,357,000. Bank of New York Mellon Corp bought a new position in MasTec during the 2nd quarter valued at about $280,544,000. Finally, Merewether Investment Management LP lifted its holdings in MasTec by 59.8% during the 3rd quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company's stock valued at $184,557,000 after purchasing an additional 324,500 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the completion of the sale, the director owned 10,816 shares in the company, valued at $4,014,574.72. The trade was a 37.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.40% of the stock is currently owned by insiders.

MasTec Stock Down 0.4%

NYSE:MTZ opened at $271.03 on Friday. The stock's fifty day moving average price is $339.52 and its two-hundred day moving average price is $337.46. MasTec, Inc. has a 52-week low of $171.05 and a 52-week high of $441.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 43.23 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, July 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.01). The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.30 billion. MasTec had a net margin of 3.07% and a return on equity of 18.08%. The firm's quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the business posted $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, analysts anticipate that MasTec, Inc. will post 8.91 EPS for the current year.

Analyst Upgrades and Downgrades

MTZ has been the topic of several research analyst reports. Guggenheim upped their price objective on shares of MasTec from $480.00 to $518.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. KeyCorp reduced their target price on MasTec from $500.00 to $371.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Stifel Nicolaus set a $455.00 price target on MasTec in a research report on Monday, May 4th. Roth Capital reaffirmed a "buy" rating and set a $450.00 price target on shares of MasTec in a report on Monday, May 4th. Finally, UBS Group cut their price objective on MasTec from $453.00 to $410.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $427.32.

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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