Freestone Grove Partners LP Purchases Shares of 246,593 MasTec, Inc. $MTZ

Key Points

• Freestone Grove Partners bought 246,593 MasTec shares worth approximately $102.6 million, representing a 0.31% stake and about 0.7% of its portfolio. Institutional investors and hedge funds collectively own 78.1% of MTZ.
• Analyst sentiment remains positive, with an overall “Buy” rating and an average price target of $427.32; ratings include one Strong Buy, 19 Buys, and one Hold.
• MasTec reported quarterly revenue of $4.37 billion, up 23.4% year over year, but narrowly missed earnings expectations with EPS of $2.22 versus $2.23 forecast. The stock opened at $249.71, well below its 52-week high of $441.43.

Freestone Grove Partners LP purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 246,593 shares of the construction company's stock, valued at approximately $102,597,000. MasTec accounts for about 0.7% of Freestone Grove Partners LP's holdings, making the stock its 23rd largest position. Freestone Grove Partners LP owned 0.31% of MasTec as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTZ. BlackRock Inc. bought a new stake in MasTec in the second quarter valued at approximately $3,178,069,000. Victory Capital Management Inc. increased its position in MasTec by 178.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company's stock valued at $573,304,000 after purchasing an additional 1,690,896 shares during the period. Hill City Capital LP bought a new position in MasTec during the 2nd quarter worth approximately $896,609,300,000. Peconic Partners LLC raised its holdings in MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company's stock worth $347,792,000 after purchasing an additional 850,000 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in MasTec by 7.6% during the 1st quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company's stock worth $454,163,000 after purchasing an additional 100,151 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTZ. Stifel Nicolaus set a $455.00 price objective on shares of MasTec in a research note on Monday, May 4th. B. Riley Financial reissued a "buy" rating on shares of MasTec in a research note on Monday, May 4th. Cantor Fitzgerald boosted their target price on shares of MasTec from $545.00 to $581.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Citigroup cut their price target on shares of MasTec from $483.00 to $408.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Finally, Roth Capital reiterated a "buy" rating and set a $450.00 price target on shares of MasTec in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $427.32.

MasTec Price Performance

MasTec stock opened at $249.71 on Thursday. The stock has a market capitalization of $20.05 billion, a price-to-earnings ratio of 39.83 and a beta of 1.81. MasTec, Inc. has a 52-week low of $171.05 and a 52-week high of $441.43. The stock's 50 day moving average price is $330.30 and its two-hundred day moving average price is $337.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.01). The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.30 billion. MasTec had a net margin of 3.07% and a return on equity of 18.08%. The business's revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 EPS. 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, equities analysts predict that MasTec, Inc. will post 8.91 earnings per share for the current year.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were 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 in the company, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.40% of the stock is currently owned by corporate insiders.

About MasTec

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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