Caisse de depot et placement du Quebec acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 10,844 shares of the construction company's stock, valued at approximately $4,512,000.
Other hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new stake in MasTec during the 2nd quarter worth approximately $32,000. Ascentis Independent Advisors bought a new position in shares of MasTec in the first quarter worth approximately $30,000. Solstein Capital LLC bought a new position in shares of MasTec in the second quarter worth approximately $58,000. GHP Investment Advisors Inc. bought a new position in shares of MasTec in the first quarter worth approximately $65,000. Finally, Harbor Investment Advisory LLC increased its stake in shares of MasTec by 486.1% in the second quarter. Harbor Investment Advisory LLC now owns 211 shares of the construction company's stock worth $88,000 after purchasing an additional 175 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. TD Cowen decreased their price objective on shares of MasTec from $470.00 to $420.00 and set a "buy" rating on the stock in a research 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 stock an "overweight" rating in a report on Wednesday, May 13th. Weiss Ratings lowered MasTec from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Zacks Research cut MasTec from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Wall Street Zen downgraded MasTec from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Nineteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, MasTec currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.32.
View Our Latest Report on MTZ
Insider Buying and Selling 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 transaction of $2,412,605.00. Following the completion of the transaction, the director 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 at the SEC website. 21.40% of the stock is currently owned by insiders.
MasTec Trading Down 4.0%
MasTec stock opened at $241.08 on Friday. The stock has a market cap of $19.36 billion, a P/E ratio of 38.45 and a beta of 1.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.40 and a quick ratio of 1.37. MasTec, Inc. has a 1 year low of $171.05 and a 1 year high of $441.43. The firm's 50 day moving average price is $324.93 and its 200-day moving average price is $337.05.
MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results 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). The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.30 billion. MasTec had a return on equity of 18.08% and a net margin of 3.07%.MasTec's revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company 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. On average, equities analysts predict that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.
MasTec Profile
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Free Report)
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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