Bowen Hanes & Co. Inc. Makes New $42.48 Million Investment in MasTec, Inc. $MTZ

Key Points

• Bowen Hanes & Co. Inc. disclosed a new fourth-quarter stake in MasTec, buying 195,440 shares worth about $42.48 million and ending with roughly 0.25% ownership.
• MasTec reported a strong quarterly beat, posting $1.39 EPS versus the $0.98 estimate and $3.83 billion in revenue, up 34.5% year over year.
• Analysts remain bullish on the stock: MasTec has an average “Buy” rating and a consensus price target of $459.28, while several firms recently raised their targets or upgraded the shares.

Bowen Hanes & Co. Inc. purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 195,440 shares of the construction company's stock, valued at approximately $42,483,000. Bowen Hanes & Co. Inc. owned about 0.25% of MasTec at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of MasTec by 9.3% during the 4th quarter. Bank of New York Mellon Corp now owns 636,359 shares of the construction company's stock valued at $138,325,000 after acquiring an additional 53,962 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of MasTec by 8.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 350,654 shares of the construction company's stock valued at $76,222,000 after acquiring an additional 26,378 shares during the last quarter. Fielder Capital Group LLC boosted its position in shares of MasTec by 11.0% during the 4th quarter. Fielder Capital Group LLC now owns 2,193 shares of the construction company's stock valued at $477,000 after acquiring an additional 217 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of MasTec by 391.4% during the 4th quarter. Arcadia Investment Management Corp MI now owns 6,349 shares of the construction company's stock valued at $1,380,000 after acquiring an additional 5,057 shares during the last quarter. Finally, NewCorp Financial Services Inc. acquired a new position in shares of MasTec during the 4th quarter valued at about $510,000. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Stock Up 1.1%

Shares of NYSE:MTZ opened at $370.41 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.32 and a quick ratio of 1.28. The firm has a market capitalization of $29.27 billion, a PE ratio of 64.87 and a beta of 1.77. The firm's 50-day moving average is $372.64 and its two-hundred day moving average is $290.46. MasTec, Inc. has a 1 year low of $153.82 and a 1 year high of $441.43.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.41. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.47 billion. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The business's revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. Analysts predict that MasTec, Inc. will post 8.51 EPS for the current year.

Insider Buying and Selling

In related news, Director Javier Alberto Palomarez sold 950 shares of the company's stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $325.43, for a total transaction of $309,158.50. Following the sale, the director directly owned 10,592 shares in the company, valued at approximately $3,446,954.56. This represents a 8.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the sale, the director owned 30,646 shares in the company, valued at $12,779,382. The trade was a 8.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 21.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MTZ shares. Roth Mkm reissued a "buy" rating and set a $450.00 price target on shares of MasTec in a research report on Monday, May 4th. Wall Street Zen raised shares of MasTec from a "hold" rating to a "buy" rating in a research report on Sunday, February 22nd. Barclays boosted their price target on shares of MasTec from $260.00 to $340.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Guggenheim raised shares of MasTec from a "neutral" rating to a "buy" rating and set a $480.00 price target on the stock in a research report on Wednesday, May 13th. Finally, Robert W. Baird boosted their price target on shares of MasTec from $348.00 to $473.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, MasTec currently has an average rating of "Buy" and a consensus price target of $459.28.

MasTec Company 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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