MasTec, Inc. $MTZ Stock Position Decreased by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. decreased its holdings in MasTec, Inc. by 2.4%, owning 68,008 shares valued at approximately $7.9 million after selling 1,662 shares.
• MasTec reported earnings of $1.49 per share, exceeding estimates, with a revenue of $3.55 billion for the quarter, representing a 19.7% year-over-year increase.
• Institutional investors hold 78.10% of MasTec's stock, with several firms significantly increasing their stakes in the company recently.

Corebridge Financial Inc. lowered its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,008 shares of the construction company's stock after selling 1,662 shares during the quarter. Corebridge Financial Inc. owned approximately 0.09% of MasTec worth $7,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtus Advisers LLC bought a new stake in shares of MasTec during the first quarter worth $148,000. Quantitative Investment Management LLC purchased a new stake in shares of MasTec during the first quarter worth about $939,000. Oliver Luxxe Assets LLC purchased a new stake in shares of MasTec during the first quarter worth about $1,703,000. Penn Capital Management Company LLC boosted its position in MasTec by 185.9% in the first quarter. Penn Capital Management Company LLC now owns 17,146 shares of the construction company's stock valued at $2,031,000 after buying an additional 11,149 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in MasTec by 171.2% in the first quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company's stock valued at $45,607,000 after buying an additional 246,666 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the sale, the chief operating officer directly owned 194,249 shares in the company, valued at approximately $33,993,575. This represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total value of $1,806,900.00. Following the sale, the executive vice president owned 101,349 shares in the company, valued at $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

MasTec Trading Down 1.4%

NYSE:MTZ traded down $2.56 on Friday, hitting $181.89. 1,124,245 shares of the stock were exchanged, compared to its average volume of 894,126. The stock has a market cap of $14.35 billion, a PE ratio of 53.81 and a beta of 1.81. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average of $176.73 and a 200-day moving average of $149.66. MasTec, Inc. has a fifty-two week low of $96.01 and a fifty-two week high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company's revenue was up 19.7% compared to the same quarter last year. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, equities analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. KeyCorp upped their target price on MasTec from $196.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Robert W. Baird upgraded MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a report on Monday, August 4th. Baird R W raised MasTec from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Roth Capital assumed coverage on MasTec in a research report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price target on the stock. Finally, Stifel Nicolaus lifted their price target on MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $195.12.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.