Empowered Funds LLC Acquires New Holdings in MasTec, Inc. $MTZ

Key Points

• Empowered Funds LLC acquired 23,617 MasTec shares worth approximately $9.8 million in the second quarter, while institutional investors collectively own 78.1% of the company.
• Analysts maintain a generally positive outlook, with 19 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $427.32.
• MasTec’s shares opened at $241.08, down 4.0%, despite revenue rising 23.4% year over year to $4.37 billion; quarterly EPS of $2.22 narrowly missed estimates.

Empowered Funds LLC bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 23,617 shares of the construction company's stock, valued at approximately $9,826,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. United Capital Financial Advisors LLC acquired a new stake in shares of MasTec in the second quarter valued at approximately $528,000. Papamarkou Wellner Asset Management inc. purchased a new position in MasTec during the second quarter worth $291,000. Equitable Holdings Inc. purchased a new position in MasTec during the second quarter worth $523,000. Public Employees Retirement System of Ohio acquired a new position in shares of MasTec in the second quarter worth $12,424,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of MasTec in the second quarter worth $779,000. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTZ. Zacks Research cut MasTec from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Mizuho reduced their target price on shares of MasTec from $502.00 to $457.00 and set an "outperform" rating on the stock in a report on Tuesday, August 4th. UBS Group decreased their price target on shares of MasTec from $453.00 to $410.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Roth Capital reiterated a "buy" rating and set a $450.00 price target on shares of MasTec in a report on Monday, May 4th. Finally, Morgan Stanley set a $369.00 price target on shares of MasTec in a report on Friday, July 31st. Nineteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $427.32.

MasTec Stock Down 4.0%

Shares of NYSE:MTZ opened at $241.08 on Friday. 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 firm has a market cap of $19.36 billion, a price-to-earnings ratio of 38.45 and a beta of 1.81. The stock's 50-day moving average price is $324.93 and its two-hundred day moving average price is $337.05. 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 posted its quarterly earnings data on Thursday, July 30th. The construction company reported $2.22 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company earned $1.49 EPS. The company's revenue was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. On average, research analysts forecast that MasTec, Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction 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 transaction, the director owned 10,816 shares in the company, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.40% of the company's stock.

MasTec 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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