Bank of New York Mellon Corp Invests $280.54 Million in MasTec, Inc. $MTZ

Key Points

• Bank of New York Mellon initiated a $280.54 million position in MasTec, purchasing 674,288 shares and acquiring approximately 0.84% of the company. Institutional investors collectively own 78.10% of MasTec.
• MasTec reported quarterly revenue of $4.37 billion, up 23.4% year over year, but EPS of $2.22 narrowly missed analyst estimates of $2.23. The company issued 2026 EPS guidance of $9.30.
• Analysts remain broadly positive, with an overall “Buy” rating and an average price target of $427.32, although several firms recently reduced their targets. Meanwhile, director Ernst N. Csiszar sold 6,500 shares worth about $2.41 million.

Bank of New York Mellon Corp purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 674,288 shares of the construction company's stock, valued at approximately $280,544,000. Bank of New York Mellon Corp owned about 0.84% of MasTec as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Earned Wealth Advisors LLC raised its holdings in MasTec by 2.8% in the first quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company's stock worth $326,000 after buying an additional 28 shares during the last quarter. Aigen Investment Management LP grew its holdings in shares of MasTec by 3.8% during the fourth quarter. Aigen Investment Management LP now owns 1,041 shares of the construction company's stock valued at $226,000 after buying an additional 38 shares during the last quarter. Everhart Financial Group Inc. increased its position in shares of 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 acquiring an additional 45 shares in the last quarter. Motley Fool Asset Management LLC increased its position in shares of MasTec by 3.7% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,311 shares of the construction company's stock valued at $285,000 after acquiring an additional 47 shares in the last quarter. Finally, Williamson Legacy Group LLC raised its holdings in MasTec by 0.9% in the 4th quarter. Williamson Legacy Group LLC now owns 5,961 shares of the construction company's stock worth $1,296,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insiders Place Their Bets

In related news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the transaction, the director directly owned 10,816 shares in the company, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.40% of the company's stock.

MasTec Price Performance

NYSE MTZ opened at $266.89 on Friday. The company has a 50-day moving average price of $337.60 and a 200-day moving average price of $336.97. MasTec, Inc. has a 52 week low of $171.05 and a 52 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 firm has a market capitalization of $21.43 billion, a P/E ratio of 42.57 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $2.22 earnings per share (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 analysts' expectations of $4.30 billion. MasTec had a return on equity of 18.08% and a net margin of 3.07%.The business's quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS. 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 8.91 earnings per share for the current year.

Analyst Ratings Changes

MTZ has been the subject of a number of research analyst reports. KeyCorp reduced their target price on MasTec from $500.00 to $371.00 and set an "overweight" rating for the company in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on shares of MasTec from $471.00 to $491.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Citigroup dropped their price target on shares of MasTec from $483.00 to $408.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Wall Street Zen lowered shares of MasTec from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, UBS Group reduced their price target on shares of MasTec from $453.00 to $410.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. One equities 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 stock. According to data from MarketBeat.com, MasTec presently has an average rating of "Buy" and an average price target of $427.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source