Canada Pension Plan Investment Board Takes $257.92 Million Position in MasTec, Inc. $MTZ

Key Points

• Canada Pension Plan Investment Board acquired 619,910 MasTec shares worth approximately $257.9 million, giving it a 0.77% stake. Institutional investors collectively own 78.10% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and a $427.32 price target, despite some recent rating downgrades.
• MasTec’s latest quarter showed 23.4% year-over-year revenue growth to $4.37 billion, though EPS of $2.22 narrowly missed estimates; shares opened at $246.66, well below their 12-month high of $441.43.

Canada Pension Plan Investment Board purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 619,910 shares of the construction company's stock, valued at approximately $257,920,000. Canada Pension Plan Investment Board owned about 0.77% of MasTec at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Gables Capital Management Inc. raised its position in shares of MasTec by 30.3% in the fourth quarter. Gables Capital Management Inc. now owns 21,054 shares of the construction company's stock valued at $4,577,000 after buying an additional 4,900 shares during the last quarter. TFR Capital LLC. acquired a new position in MasTec during the second quarter worth about $1,978,000. Swedbank AB grew its stake in MasTec by 5.2% during the 4th quarter. Swedbank AB now owns 64,300 shares of the construction company's stock valued at $13,977,000 after acquiring an additional 3,200 shares in the last quarter. Sanctuary Advisors LLC grew its stake in MasTec by 463.6% during the 4th quarter. Sanctuary Advisors LLC now owns 13,527 shares of the construction company's stock valued at $2,940,000 after acquiring an additional 11,127 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its holdings in MasTec by 4,223.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 2,767 shares of the construction company's stock valued at $601,000 after acquiring an additional 2,703 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTZ. Wall Street Zen lowered shares of MasTec from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings lowered MasTec from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Morgan Stanley set a $369.00 price target on MasTec in a report on Friday, July 31st. Guggenheim boosted their price objective on MasTec from $480.00 to $518.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Finally, CICC Research initiated coverage on MasTec in a research note on Thursday, May 21st. They set an "outperform" rating and a $480.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned 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 price target of $427.32.

MasTec Stock Down 3.4%

Shares of NYSE:MTZ opened at $246.66 on Wednesday. The business has a 50-day moving average price of $332.81 and a 200 day moving average price of $337.74. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 39.34 and a beta of 1.81. MasTec, Inc. has a 12-month low of $171.05 and a 12-month high of $441.43.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The firm'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. Sell-side analysts expect that MasTec, Inc. will post 8.91 EPS for the current year.

Insider Activity

In other news, Director Ernst N. Csiszar sold 6,500 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total value of $2,412,605.00. Following the transaction, the director directly owned 10,816 shares in the company, valued at approximately $4,014,574.72. This represents a 37.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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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