Bayforest Capital Ltd Purchases 4,791 Shares of MasTec, Inc. $MTZ

Key Points

• Bayforest Capital Ltd has increased its stake in MasTec, Inc. by 294.3% in Q1, owning 6,419 shares valued at $749,000.
• Recent analyst ratings for MasTec show a positive outlook, with several firms issuing strong buy and outperform ratings, and a consensus price target of $196.22.
• MasTec reported earnings of $1.49 per share for Q2, exceeding estimates, with a revenue of $3.55 billion, a 19.7% increase year-over-year.

Bayforest Capital Ltd raised its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 294.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,419 shares of the construction company's stock after purchasing an additional 4,791 shares during the quarter. Bayforest Capital Ltd's holdings in MasTec were worth $749,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MTZ. Brighton Jones LLC bought a new position in MasTec in the 4th quarter valued at $227,000. Mercer Global Advisors Inc. ADV acquired a new stake in MasTec in the 4th quarter valued at about $409,000. Ameriprise Financial Inc. increased its position in MasTec by 39.1% in the 4th quarter. Ameriprise Financial Inc. now owns 144,098 shares of the construction company's stock valued at $19,618,000 after acquiring an additional 40,483 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of MasTec by 32.2% in the fourth quarter. BNP Paribas Financial Markets now owns 38,053 shares of the construction company's stock worth $5,181,000 after acquiring an additional 9,261 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of MasTec by 20.0% during the fourth quarter. Captrust Financial Advisors now owns 5,451 shares of the construction company's stock worth $742,000 after purchasing an additional 910 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho initiated coverage on shares of MasTec in a research note on Thursday, September 4th. They set an "outperform" rating and a $215.00 price target on the stock. Citigroup decreased their price objective on MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Baird R W upgraded MasTec from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. The Goldman Sachs Group upped their price target on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Truist Financial set a $209.00 price target on MasTec in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $196.22.

Insider Transactions at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated 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 sale, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Cardenas Alberto De sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president owned 101,349 shares in the company, valued at approximately $18,312,750.81. This trade represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Up 0.3%

Shares of NYSE MTZ traded up $0.56 during mid-day trading on Friday, reaching $189.74. 742,882 shares of the company's stock were exchanged, compared to its average volume of 1,032,645. 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 business has a fifty day simple moving average of $178.83 and a 200 day simple moving average of $152.47. MasTec, Inc. has a twelve month low of $99.70 and a twelve month high of $194.00. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 56.14 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.MasTec's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, equities analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.