MasTec, Inc. $MTZ Shares Acquired by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its stake in MasTec, Inc. by 8.8%, now holding 182,388 shares valued at approximately $21.3 million.
• MasTec reported a 19.7% increase in quarterly revenue, reaching $3.55 billion, and earnings per share of $1.49, exceeding estimates.
• Various research analysts have set new price targets for MasTec, with Roth Capital initiating coverage with a target of $210 and Mizuho setting a target at $215.

Gotham Asset Management LLC raised its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,388 shares of the construction company's stock after purchasing an additional 14,694 shares during the period. Gotham Asset Management LLC owned 0.23% of MasTec worth $21,287,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Hill City Capital LP increased its position in shares of MasTec by 0.7% in the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company's stock valued at $250,343,000 after acquiring an additional 15,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in MasTec by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company's stock valued at $142,331,000 after purchasing an additional 39,622 shares during the last quarter. AQR Capital Management LLC boosted its holdings in MasTec by 23.6% in the first quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock valued at $106,234,000 after purchasing an additional 184,277 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in MasTec by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock valued at $65,440,000 after purchasing an additional 4,024 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MasTec by 6.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 546,424 shares of the construction company's stock valued at $74,390,000 after purchasing an additional 33,332 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on MTZ. KeyCorp upped their price target on shares of MasTec from $196.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen raised shares of MasTec from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Barclays reissued an "overweight" rating and set a $200.00 target price (up from $145.00) on shares of MasTec in a research note on Monday, July 21st. Baird R W raised shares of MasTec from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Mizuho assumed coverage on shares of MasTec in a research note on Thursday, September 4th. They set an "outperform" rating and a $215.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $196.22.

MasTec Price Performance

MTZ stock traded down $1.85 during trading on Tuesday, hitting $174.90. The stock had a trading volume of 587,452 shares, compared to its average volume of 1,029,580. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. MasTec, Inc. has a twelve month low of $99.70 and a twelve month high of $194.00. The stock has a market capitalization of $13.80 billion, a P/E ratio of 51.75 and a beta of 1.81. The company's 50-day moving average price is $177.93 and its two-hundred day moving average price is $151.61.

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

Insider Transactions at MasTec

In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president owned 101,349 shares in the company, valued at approximately $18,312,750.81. This represents a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer owned 194,249 shares of the company's stock, valued at approximately $33,993,575. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

MasTec 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.