Arax Advisory Partners Trims Stock Position in MasTec, Inc. $MTZ

Key Points

• Arax Advisory Partners cut its MasTec stake by 74.7% in the fourth quarter, selling 53,584 shares and leaving it with 18,189 shares worth about $3.95 million.
• Insiders have also been selling: directors Javier Alberto Palomarez and C Robert Campbell both reduced their holdings, and insiders sold 10,450 shares worth about $3.97 million over the last quarter.
• Despite the selling, Wall Street sentiment remains bullish, with 19 Buy ratings, 1 Strong Buy, and a consensus price target of $459.28; MasTec also beat quarterly earnings and revenue estimates in its latest report.

Arax Advisory Partners lowered its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 74.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,189 shares of the construction company's stock after selling 53,584 shares during the period. Arax Advisory Partners' holdings in MasTec were worth $3,954,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in MasTec in the 4th quarter worth approximately $30,000. CIBC Private Wealth Group LLC grew its stake in MasTec by 372.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company's stock worth $51,000 after buying an additional 186 shares in the last quarter. Covestor Ltd grew its stake in MasTec by 102.6% in the 4th quarter. Covestor Ltd now owns 314 shares of the construction company's stock worth $68,000 after buying an additional 159 shares in the last quarter. CI Investments Inc. lifted its holdings in shares of MasTec by 39.9% in the 3rd quarter. CI Investments Inc. now owns 319 shares of the construction company's stock worth $68,000 after acquiring an additional 91 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of MasTec by 671.4% in the 4th quarter. Harbour Investments Inc. now owns 324 shares of the construction company's stock worth $70,000 after acquiring an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Buying and Selling

In other MasTec news, Director Javier Alberto Palomarez sold 950 shares of the firm's stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $325.43, for a total transaction of $309,158.50. Following the sale, the director owned 10,592 shares in the company, valued at approximately $3,446,954.56. This trade represents a 8.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm'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 transaction of $1,251,000.00. Following the sale, the director owned 30,646 shares in the company, valued at approximately $12,779,382. The trade was a 8.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,450 shares of company stock valued at $3,972,764. 21.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTZ. CICC Research began coverage on shares of MasTec in a report on Thursday, May 21st. They issued an "outperform" rating and a $480.00 price objective for the company. KeyCorp boosted their price objective on shares of MasTec from $460.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Guggenheim upgraded shares of MasTec from a "neutral" rating to a "buy" rating and set a $480.00 price objective for the company in a report on Wednesday, May 13th. Stifel Nicolaus set a $455.00 price objective on shares of MasTec in a report on Monday, May 4th. Finally, Zacks Research upgraded shares of MasTec from a "hold" rating to a "strong-buy" rating in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $459.28.

MasTec Trading Down 0.1%

NYSE:MTZ opened at $362.63 on Monday. MasTec, Inc. has a one year low of $159.77 and a one year high of $441.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.32 and a quick ratio of 1.28. The company's 50-day simple moving average is $378.24 and its 200 day simple moving average is $298.51. The firm has a market capitalization of $28.66 billion, a P/E ratio of 63.51 and a beta of 1.78.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, beating 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 net margin of 2.94% and a return on equity of 17.15%. MasTec's revenue was up 34.5% compared to the same quarter last year. During the same period last year, the business earned $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. As a group, analysts forecast that MasTec, Inc. will post 8.51 EPS for the current fiscal year.

MasTec Profile

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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