Bank of America Corp DE Purchases 75,100 Shares of MasTec, Inc. $MTZ

Key Points

• Bank of America increased its MasTec stake by 6%, purchasing 75,100 shares to bring its holdings to 1.33 million shares, valued at approximately $427.9 million. Institutional investors collectively own 78.1% of MTZ.
• MasTec reported second-quarter revenue of $4.37 billion, up 23.4% year over year and above estimates, while EPS of $2.22 narrowly missed consensus. The company raised or maintained strong full-year guidance, but concerns about the outlook weighed on the stock.
• Analyst sentiment remains positive, with one Strong Buy, 19 Buy and one Hold rating, producing an overall “Buy” consensus and an average price target of $461.74.

Bank of America Corp DE boosted its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 6.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,330,066 shares of the construction company's stock after buying an additional 75,100 shares during the period. Bank of America Corp DE owned 1.68% of MasTec worth $427,935,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MTZ. Ascentis Independent Advisors bought a new position in shares of MasTec during the 1st quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of MasTec in the fourth quarter worth about $30,000. GHP Investment Advisors Inc. purchased a new stake in shares of MasTec in the first quarter worth about $65,000. CIBC Private Wealth Group LLC lifted its position in shares of MasTec by 372.0% in the fourth 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. Finally, Root Financial Partners LLC boosted its stake in MasTec by 25.4% during the first quarter. Root Financial Partners LLC now owns 311 shares of the construction company's stock valued at $100,000 after buying an additional 63 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTZ. Robert W. Baird upped their price objective on MasTec from $473.00 to $475.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Morgan Stanley set a $369.00 target price on shares of MasTec in a report on Friday. Truist Financial boosted their price target on shares of MasTec from $518.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Roth Capital reaffirmed a "buy" rating and set a $450.00 price target on shares of MasTec in a research note on Monday, May 4th. Finally, Zacks Research raised shares of MasTec from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, MasTec currently has an average rating of "Buy" and a consensus price target of $461.74.

MasTec News Summary

Here are the key news stories impacting MasTec this week:

• Positive Sentiment: MasTec reported second-quarter revenue of $4.37 billion, up 23.4% year over year and above the approximately $4.30 billion consensus estimate. EPS increased to $2.22 from $1.49 a year earlier. Management also highlighted broad-based growth, margin expansion and backlog development. MasTec Reports Second Quarter 2026 Results and Updates Full Year 2026 Financial Guidance
• Positive Sentiment: The company’s adjusted EBITDA margin improved by 100 basis points, while third-quarter guidance calls for $4.9 billion in revenue and $2.98 EPS. Full-year 2026 guidance of $18.2 billion in revenue and $9.30 EPS is above current analyst consensus. MasTec 2026 Q2 Results Presentation
• Neutral Sentiment: MasTec appointed Alex Spiro to its board. His experience advising large companies on governance, regulatory and strategic matters may support the company’s oversight, but the appointment is unlikely to materially affect near-term earnings. MasTec Announces Alex Spiro Board Appointment
• Negative Sentiment: The earnings result was mixed: EPS narrowly missed the broader consensus estimate of $2.23, even though it exceeded the Zacks estimate of $2.19. Investors appear to be looking beyond the headline revenue beat and questioning the quality or sustainability of the outlook. MasTec Q2 Key Metrics
• Negative Sentiment: Market coverage characterized the updated guidance as a cut relative to prior expectations, overshadowing the record quarter. This concern about forward growth expectations appears to be the primary reason MTZ moved lower despite year-over-year gains and guidance above consensus. MasTec Falls After Guidance Cut

MasTec Stock Performance

Shares of NYSE:MTZ opened at $263.51 on Friday. The firm's 50 day simple moving average is $365.55 and its 200-day simple moving average is $333.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.28 and a current ratio of 1.32. MasTec, Inc. has a one year low of $160.08 and a one year high of $441.43. The firm has a market cap of $20.82 billion, a PE ratio of 42.03 and a beta of 1.77.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.01). MasTec had a return on equity of 18.47% and a net margin of 3.07%.The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same period last year, the company earned $1.49 earnings per share. The firm's revenue was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, equities analysts predict that MasTec, Inc. will post 9.18 EPS for the current year.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 6,500 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the transaction, the director directly owned 10,816 shares in the company, valued at $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the completion of the sale, the director directly owned 30,646 shares in the company, valued at $12,779,382. This trade represents a 8.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 21.40% of the company's stock.

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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