Assenagon Asset Management S.A. Has $47.92 Million Stock Position in MasTec, Inc. $MTZ

Key Points

• Assenagon Asset Management S.A. increased its stake in MasTec, Inc. by 14.7%, now owning 0.36% of the company with $47.92 million worth of stock.
• MasTec's recent earnings report showed an EPS of $1.49, exceeding estimates, along with a revenue of $3.55 billion, a 19.7% year-over-year increase.
• Analysts have a generally positive outlook on MasTec, with three Strong Buy ratings and an average price target of $197.84 for the stock.

Assenagon Asset Management S.A. raised its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 14.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 281,171 shares of the construction company's stock after purchasing an additional 35,940 shares during the period. Assenagon Asset Management S.A. owned 0.36% of MasTec worth $47,920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Forum Financial Management LP boosted its holdings in MasTec by 3.9% during the first quarter. Forum Financial Management LP now owns 2,097 shares of the construction company's stock worth $245,000 after purchasing an additional 78 shares during the last quarter. Parallel Advisors LLC increased its holdings in MasTec by 37.1% during the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company's stock worth $52,000 after acquiring an additional 82 shares during the period. Louisiana State Employees Retirement System increased its holdings in MasTec by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company's stock worth $2,007,000 after acquiring an additional 100 shares during the period. Securian Asset Management Inc. increased its holdings in MasTec by 2.2% during the 1st quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company's stock worth $551,000 after acquiring an additional 100 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of MasTec by 16.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company's stock worth $87,000 after buying an additional 104 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Up 0.7%

Shares of NYSE:MTZ opened at $200.91 on Friday. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 59.44 and a beta of 1.81. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $201.97. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average price is $181.79 and its two-hundred day moving average price is $155.41.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MTZ shares. Roth Capital started coverage on shares of MasTec in a research note on Tuesday, July 1st. They issued a "buy" rating and a $210.00 price objective for the company. Wolfe Research raised shares of MasTec from a "peer perform" rating to an "outperform" rating and set a $227.00 price objective for the company in a research note on Wednesday. TD Cowen upped 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. Robert W. Baird raised shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research note on Monday, August 4th. Finally, DA Davidson set a $210.00 price target on shares of MasTec and gave the company a "buy" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $197.84.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. This represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $190.39, for a total value of $571,170.00. Following the completion of the transaction, the director directly owned 35,277 shares of the company's stock, valued at approximately $6,716,388.03. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,000 shares of company stock worth $4,128,070. 21.30% of the stock is owned by corporate insiders.

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.

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