MasTec, Inc. $MTZ Stock Holdings Increased by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in MasTec, Inc. by 171.2% in Q1, owning approximately 0.50% of the company worth $45.6 million after purchasing an additional 246,666 shares.
• MasTec reported $1.49 earnings per share for the last quarter, exceeding expectations and demonstrating a year-over-year revenue growth of 19.7%.
• Analyst ratings show a consensus of "Buy" for MasTec, with price targets ranging from $175.00 to $227.00 established by various firms.

Ameriprise Financial Inc. raised its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 171.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,764 shares of the construction company's stock after buying an additional 246,666 shares during the period. Ameriprise Financial Inc. owned approximately 0.50% of MasTec worth $45,607,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC boosted its position in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 141 shares during the last quarter. Rothschild Investment LLC boosted its holdings in MasTec by 2,023.1% in the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after purchasing an additional 263 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in MasTec in the first quarter valued at about $35,000. Harbor Investment Advisory LLC boosted its holdings in MasTec by 147.1% in the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of MasTec during the 4th quarter valued at approximately $49,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MTZ. Barclays reiterated an "overweight" rating and set a $200.00 target price (up from $145.00) on shares of MasTec in a research note on Monday, July 21st. TD Cowen increased their price objective on shares of MasTec from $175.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, August 4th. KeyCorp increased their price objective on shares of MasTec from $196.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Citigroup reduced their price target on shares of MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Finally, Truist Financial set a $209.00 price target on shares of MasTec in a research report on Monday, August 4th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, MasTec currently has an average rating of "Buy" and an average price target of $195.12.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the sale, the chief operating officer directly owned 194,249 shares in the company, valued at approximately $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president owned 101,349 shares in the company, valued at $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

MasTec Stock Performance

Shares of MasTec stock traded down $0.67 during trading hours on Wednesday, reaching $179.33. The company's stock had a trading volume of 735,571 shares, compared to its average volume of 818,655. 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 company's 50 day simple moving average is $177.46 and its 200 day simple moving average is $150.39. MasTec, Inc. has a one year low of $96.01 and a one year high of $194.00. The stock has a market cap of $14.15 billion, a P/E ratio of 53.06 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The firm had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. MasTec's revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted $0.96 earnings per share. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.