Daiwa Securities Group Inc. Has $13.80 Million Position in MasTec, Inc. $MTZ

Key Points

• Daiwa Securities Group Inc. cut its MasTec stake by 29.1% in the fourth quarter, selling 26,078 shares and ending with 63,469 shares worth about $13.8 million.
• Insider selling picked up, with director Ernst N. Csiszar and director Javier Alberto Palomarez both reducing their holdings; insiders sold a total of 10,450 shares over the last three months.
• MasTec posted strong quarterly results, reporting EPS of $1.39 versus estimates of $0.98 and revenue of $3.83 billion, while analysts remain broadly bullish with an average “Buy” rating and a target price around $459.28.

Daiwa Securities Group Inc. lowered its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 29.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,469 shares of the construction company's stock after selling 26,078 shares during the quarter. Daiwa Securities Group Inc. owned 0.08% of MasTec worth $13,796,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in shares of MasTec by 14.9% during the third quarter. Thrivent Financial for Lutherans now owns 16,593 shares of the construction company's stock worth $3,531,000 after buying an additional 2,158 shares in the last quarter. Gables Capital Management Inc. grew its holdings in shares of MasTec by 30.3% during the fourth quarter. Gables Capital Management Inc. now owns 21,054 shares of the construction company's stock worth $4,577,000 after buying an additional 4,900 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of MasTec by 50.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 70,500 shares of the construction company's stock worth $15,325,000 after buying an additional 23,500 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of MasTec by 35.1% during the fourth quarter. Ritholtz Wealth Management now owns 11,349 shares of the construction company's stock worth $2,467,000 after buying an additional 2,948 shares in the last quarter. Finally, Union Bancaire Privee UBP SA grew its holdings in shares of MasTec by 192.1% during the fourth quarter. Union Bancaire Privee UBP SA now owns 14,046 shares of the construction company's stock worth $3,053,000 after buying an additional 9,238 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ernst N. Csiszar sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the sale, the director directly owned 10,816 shares of the company's stock, valued at $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Javier Alberto Palomarez sold 950 shares of the firm'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 value of $309,158.50. Following the completion of the sale, the director directly owned 10,592 shares of the company's stock, valued at approximately $3,446,954.56. The trade was a 8.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,450 shares of company stock valued at $3,972,764 over the last three months. Insiders own 21.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded MasTec from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Truist Financial increased their price objective on MasTec from $425.00 to $518.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Robert W. Baird increased their price objective on MasTec from $348.00 to $473.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Citigroup increased their price objective on MasTec from $440.00 to $483.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Barclays raised their price target on MasTec from $260.00 to $340.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, MasTec has an average rating of "Buy" and an average target price of $459.28.

MasTec Stock Down 2.9%

MTZ stock opened at $363.70 on Friday. 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 50 day moving average price of $374.48 and a two-hundred day moving average price of $292.25. The company has a market cap of $28.74 billion, a price-to-earnings ratio of 63.70 and a beta of 1.77. MasTec, Inc. has a twelve month low of $153.82 and a twelve month high of $441.43.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the company earned $0.51 earnings per share. The business's revenue 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. Analysts anticipate that MasTec, Inc. will post 8.51 EPS for the current fiscal 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.

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