Exchange Traded Concepts LLC Buys 9,871 Shares of MasTec, Inc. $MTZ

Key Points

• Exchange Traded Concepts LLC increased its stake in MasTec, Inc. by 35.2% in Q2, now holding 37,905 shares valued at approximately $6.46 million.
• Insiders have sold a total of 23,000 shares of MasTec stock worth $4.13 million over the last ninety days, with 21.30% of the stock currently owned by insiders.
• MasTec reported a Q2 earnings per share of $1.49, exceeding estimates, and set ambitious FY 2025 guidance at 6.230-6.440 EPS.

Exchange Traded Concepts LLC increased its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 35.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,905 shares of the construction company's stock after acquiring an additional 9,871 shares during the quarter. Exchange Traded Concepts LLC's holdings in MasTec were worth $6,460,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Hill City Capital LP raised its holdings in MasTec by 0.7% in the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company's stock worth $250,343,000 after acquiring an additional 15,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in MasTec by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company's stock worth $142,331,000 after acquiring an additional 39,622 shares during the period. Goldman Sachs Group Inc. grew its position in MasTec by 163.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock worth $121,843,000 after purchasing an additional 648,184 shares during the last quarter. AQR Capital Management LLC grew its position in MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock worth $106,234,000 after purchasing an additional 184,277 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in MasTec by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock worth $65,440,000 after purchasing an additional 4,024 shares during the last quarter. Institutional investors own 78.10% of the company's stock.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $190.39, for a total transaction of $571,170.00. Following the completion of the sale, the director directly owned 35,277 shares of the company's stock, valued at $6,716,388.03. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the sale, the executive vice president directly owned 101,349 shares of the company's stock, valued at approximately $18,312,750.81. This trade represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,000 shares of company stock valued at $6,132,470 over the last ninety days. Insiders own 21.30% of the company's stock.

MasTec Price Performance

NYSE:MTZ traded down $0.85 on Tuesday, reaching $206.22. The stock had a trading volume of 122,553 shares, compared to its average volume of 1,027,092. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $208.00. The company has a market capitalization of $16.27 billion, a P/E ratio of 61.03 and a beta of 1.81. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $182.49 and a 200-day moving average price of $156.31.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates 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 company's revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm posted $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. Research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTZ. The Goldman Sachs Group raised their price target on shares of MasTec from $195.00 to $227.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Truist Financial set a $209.00 price target on shares of MasTec in a research report on Monday, August 4th. Baird R W upgraded shares of MasTec from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. KeyCorp lifted their target price on shares of MasTec from $196.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Mizuho initiated coverage on shares of MasTec in a research report on Thursday, September 4th. They set an "outperform" rating and a $215.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating and seventeen have issued a Buy rating to the stock. According to data from MarketBeat, MasTec presently has an average rating of "Buy" and a consensus target price of $197.84.

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.