DnB Asset Management AS Grows Stake in MasTec, Inc. $MTZ

Key Points

• DnB Asset Management AS increased its stake in MasTec, Inc. by 33.0%, owning 355,222 shares worth approximately $41.46 million after acquiring an additional 88,107 shares in the first quarter.
• MasTec reported strong quarterly earnings with an EPS of $1.49, surpassing analysts' expectations, and its quarterly revenue grew by 19.7% year-over-year.
• Several investment firms have raised their price targets for MasTec's stock, with Goldman Sachs increasing it from $195 to $227 and maintaining a "buy" rating.

DnB Asset Management AS boosted its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 33.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 355,222 shares of the construction company's stock after buying an additional 88,107 shares during the period. DnB Asset Management AS owned 0.45% of MasTec worth $41,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Co SC lifted its holdings in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares during the period. Rothschild Investment LLC lifted its holdings in MasTec by 2,023.1% in the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after buying an additional 263 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in MasTec in the first quarter worth about $35,000. Harbor Investment Advisory LLC lifted its holdings in MasTec by 147.1% in the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after buying an additional 200 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new stake in MasTec in the fourth quarter worth about $49,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Roth Capital assumed coverage on shares of MasTec in a report on Tuesday, July 1st. They issued a "buy" rating and a $210.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of MasTec from $195.00 to $227.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Truist Financial set a $209.00 target price on shares of MasTec in a report on Monday, August 4th. Barclays reiterated an "overweight" rating and set a $200.00 target price (up from $145.00) on shares of MasTec in a report on Monday, July 21st. Finally, Jefferies Financial Group initiated coverage on shares of MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $196.22.

MasTec Stock Down 0.8%

Shares of MTZ traded down $1.47 on Monday, hitting $176.53. 752,051 shares of the stock traded hands, compared to its average volume of 1,032,179. The company has a market capitalization of $13.93 billion, a PE ratio of 52.23 and a beta of 1.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The business has a 50 day simple moving average of $177.81 and a 200 day simple moving average of $151.25. MasTec, Inc. has a one year low of $98.00 and a one year high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.08. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm's quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. 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 forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at MasTec

In related news, EVP Cardenas Alberto De sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the completion of the sale, the executive vice president owned 101,349 shares of the company's stock, valued at $18,312,750.81. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were 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 of the company's stock, valued at $33,993,575. This trade represents a 4.90% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by company insiders.

MasTec Company Profile

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.