Campbell Newman Asset Management Inc. Trims Holdings in MasTec, Inc. $MTZ

Key Points

• Campbell Newman Asset Management cut its MasTec stake by 17.9% in the first quarter, selling 3,967 shares and leaving it with 18,156 shares worth about $5.84 million.
• Insiders have also been selling, including directors Javier Alberto Palomarez and C Robert Campbell, with total insider sales of 10,450 shares worth about $3.97 million over the last three months.
• Analysts remain bullish on MTZ, with a consensus rating of “Buy” and an average price target of $459.28, while MasTec also posted stronger-than-expected quarterly results, including EPS of $1.39 on revenue of $3.83 billion.

Campbell Newman Asset Management Inc. reduced its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,156 shares of the construction company's stock after selling 3,967 shares during the period. Campbell Newman Asset Management Inc.'s holdings in MasTec were worth $5,842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of MasTec during the fourth quarter valued at approximately $227,000. NewEdge Advisors LLC raised its holdings in MasTec by 32.6% in the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company's stock valued at $514,000 after acquiring an additional 1,083 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in MasTec in the 2nd quarter valued at $271,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of MasTec by 105.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company's stock worth $61,000 after purchasing an additional 182 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of MasTec by 793.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,027 shares of the construction company's stock worth $175,000 after purchasing an additional 912 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

In other news, Director Javier Alberto Palomarez sold 950 shares of MasTec stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $325.43, for a total value of $309,158.50. Following the transaction, the director directly owned 10,592 shares of the company's stock, valued at $3,446,954.56. The trade was a 8.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $417.00, for a total value of $1,251,000.00. Following the sale, the director owned 30,646 shares of the company's stock, valued at $12,779,382. The trade was a 8.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,450 shares of company stock worth $3,972,764 in the last three months. 21.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MTZ shares. JPMorgan Chase & Co. lifted their price objective on MasTec from $471.00 to $491.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded MasTec from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, June 8th. Barclays raised their price target on MasTec from $260.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. TD Cowen lifted their price target on MasTec from $320.00 to $445.00 and gave the company a "buy" rating in a report on Monday, May 4th. Finally, Stifel Nicolaus set a $455.00 price objective 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 given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $459.28.

MasTec Trading Up 0.2%

MTZ stock opened at $380.34 on Monday. The company has a market cap of $30.05 billion, a price-to-earnings ratio of 66.61 and a beta of 1.78. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $381.86 and a 200-day simple moving average of $304.33. MasTec, Inc. has a 52 week low of $160.08 and a 52 week high of $441.43.

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

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.

Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ - Free Report).

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.