BlackRock Inc. Invests $3.18 Billion in MasTec, Inc. $MTZ

BlackRock Inc. purchased a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,638,487 shares of the construction company's stock, valued at approximately $3,178,069,000. BlackRock Inc. owned approximately 9.51% of MasTec as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MTZ. Victory Capital Management Inc. increased its stake in shares of MasTec by 178.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company's stock worth $573,304,000 after buying an additional 1,690,896 shares during the period. Peconic Partners LLC boosted its holdings in MasTec by 113.3% in the fourth quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company's stock valued at $347,792,000 after purchasing an additional 850,000 shares in the last quarter. First Trust Advisors LP increased its stake in MasTec by 7.6% in the first quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company's stock valued at $454,163,000 after purchasing an additional 100,151 shares during the last quarter. Bank of America Corp DE raised its holdings in MasTec by 6.0% during the first quarter. Bank of America Corp DE now owns 1,330,066 shares of the construction company's stock worth $427,935,000 after purchasing an additional 75,100 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in MasTec by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,220,703 shares of the construction company's stock worth $265,395,000 after purchasing an additional 94,344 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 7.3%

Shares of NYSE:MTZ opened at $280.51 on Wednesday. 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 company has a market capitalization of $22.53 billion, a P/E ratio of 44.74 and a beta of 1.82. MasTec, Inc. has a 52-week low of $167.66 and a 52-week high of $441.43. The stock's fifty day simple moving average is $342.53 and its 200-day simple moving average is $337.06.

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 for the quarter, missing analysts' consensus estimates of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm earned $1.49 EPS. The business's quarterly revenue was up 23.4% on a year-over-year basis. 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 research analysts forecast that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Mizuho reduced their price objective on MasTec from $502.00 to $457.00 and set an "outperform" rating for the company in a research note on Tuesday, August 4th. UBS Group lowered their target price on shares of MasTec from $453.00 to $410.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Zacks Research raised shares of MasTec from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. TD Cowen reduced their price objective on MasTec from $470.00 to $420.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Finally, Jefferies Financial Group restated a "buy" rating and set a $493.00 price target on shares of MasTec in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $427.32.

Insider Activity at MasTec

In related news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the transaction, the director owned 10,816 shares in the company, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 21.40% of the company's stock.

About MasTec

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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