Ieq Capital LLC Cuts Stock Position in MasTec, Inc. $MTZ

Key Points

• Ieq Capital LLC has reduced its holdings in MasTec, Inc. by 19.0%, selling 6,975 shares during the first quarter, leaving them with a total of 29,681 shares valued at $3.46 million.
• Recent price targets for MasTec's stock have varied significantly among analysts, with JPMorgan Chase & Co. raising its target from $180.00 to $214.00, while Citigroup slightly lowered its target from $220.00 to $219.00.
• MasTec, Inc. reported earnings of $1.49 per share for the last quarter, exceeding analysts' expectations, and its revenue increased by 19.7% compared to the previous year.

Ieq Capital LLC reduced its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 19.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,681 shares of the construction company's stock after selling 6,975 shares during the quarter. Ieq Capital LLC's holdings in MasTec were worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC grew its position 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 acquiring an additional 141 shares in the last quarter. Rothschild Investment LLC boosted its holdings in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of MasTec during the 1st quarter valued at about $35,000. Harbor Investment Advisory LLC increased its position in shares of MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of MasTec during the 4th quarter valued at about $49,000. Institutional investors own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MTZ shares. Stifel Nicolaus lifted their price target on shares of MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Truist Financial set a $209.00 target price on MasTec in a research note on Monday, August 4th. Robert W. Baird upgraded MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Monday, August 4th. Mizuho began coverage on MasTec in a research note on Thursday. They issued an "outperform" rating and a $215.00 price target on the stock. Finally, Roth Capital began coverage on MasTec in a research note on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $196.22.

MasTec Trading Up 1.0%

Shares of NYSE:MTZ traded up $1.78 on Thursday, hitting $181.28. The company had a trading volume of 367,526 shares, compared to its average volume of 1,030,113. MasTec, Inc. has a 1 year low of $96.01 and a 1 year high of $194.00. 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 firm's 50-day simple moving average is $177.46 and its two-hundred day simple moving average is $150.39. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 53.63 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) 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%. MasTec's revenue was up 19.7% on a year-over-year basis. During the same period in the prior 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. Equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In related news, EVP Cardenas Alberto De sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total value of $1,806,900.00. Following the sale, the executive vice president directly owned 101,349 shares of the company's stock, valued at $18,312,750.81. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the chief operating officer directly owned 194,249 shares of the company's stock, valued at $33,993,575. This 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 corporate 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.