Bank of America Corp DE Invests $555.83 Million in MasTec, Inc. $MTZ

Key Points

• Bank of America acquired a new $555.8 million stake in MasTec during the second quarter, purchasing 1.34 million shares and gaining approximately 1.66% ownership. Institutional investors collectively own 78.1% of the company.
• MasTec reported quarterly revenue of $4.37 billion, up 23.4% year over year, but earnings of $2.22 per share narrowly missed analyst estimates. The stock opened at $222.60, well below its 52-week high of $441.43.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $422, although several firms recently reduced their targets or downgraded the stock.

Bank of America Corp DE bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,335,924 shares of the construction company's stock, valued at approximately $555,825,000. Bank of America Corp DE owned approximately 1.66% of MasTec at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Earned Wealth Advisors LLC boosted its holdings in shares of MasTec by 2.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company's stock valued at $326,000 after acquiring an additional 28 shares during the last quarter. Everhart Financial Group Inc. lifted its position in MasTec by 5.4% during the second quarter. Everhart Financial Group Inc. now owns 874 shares of the construction company's stock valued at $364,000 after purchasing an additional 45 shares during the period. Motley Fool Asset Management LLC boosted its holdings in MasTec by 3.7% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,311 shares of the construction company's stock valued at $285,000 after purchasing an additional 47 shares during the last quarter. Williamson Legacy Group LLC boosted its holdings in MasTec by 0.9% in the fourth quarter. Williamson Legacy Group LLC now owns 5,961 shares of the construction company's stock valued at $1,296,000 after purchasing an additional 52 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in MasTec by 21.0% during the 1st quarter. Parallel Advisors LLC now owns 340 shares of the construction company's stock worth $109,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Price Performance

MTZ stock opened at $222.60 on Wednesday. The business has a 50 day moving average price of $287.30 and a 200 day moving average price of $334.46. MasTec, Inc. has a fifty-two week low of $182.34 and a fifty-two week high of $441.43. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 35.50 and a beta of 1.82.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, July 30th. The construction company reported $2.22 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.01). The business 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 business's revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. Equities research analysts anticipate that MasTec, Inc. will post 8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. CICC Research started coverage on shares of MasTec in a report on Thursday, May 21st. They set an "outperform" rating and a $480.00 price target on the stock. Zacks Research lowered MasTec from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 26th. KeyCorp lowered 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. Cantor Fitzgerald upped their price objective on shares of MasTec from $545.00 to $581.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Finally, Mizuho reduced their target price on MasTec from $502.00 to $457.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $422.00.

MasTec Profile

MasTec, Inc is an infrastructure construction and engineering company that serves communications, energy and utility customers. The company provides design, construction, installation, maintenance and upgrade services for infrastructure projects across the United States and, in certain activities, Canada.

MasTec's communications business supports wireless, wireline and broadband networks, including fiber-optic systems, 5G infrastructure and other communications facilities. Its energy and infrastructure operations serve electric utilities, renewable energy developers and other industrial customers through services such as power transmission and distribution construction, solar and wind project development, pipeline construction and other related infrastructure work.

MasTec traces its roots to the telecommunications and utility construction businesses and was formed as MasTec in 1994.

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