Intech Investment Management LLC Sells 34,152 Shares of MasTec, Inc. $MTZ

Key Points

• Intech Investment Management LLC sold 34,152 shares of MasTec, Inc., reducing its holdings by 59.4% during the first quarter, leaving them with 23,298 shares valued at $2.72 million.
• MasTec's quarterly earnings report showed an EPS of $1.49, exceeding expectations of $1.41, with revenues of $3.55 billion, up 19.7% from the previous year.
• Several analysts raised their target prices for MasTec's stock, with estimates ranging from $195.00 to $205.00, reflecting a generally positive outlook for the company.

Intech Investment Management LLC cut its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 59.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,298 shares of the construction company's stock after selling 34,152 shares during the period. Intech Investment Management LLC's holdings in MasTec were worth $2,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTZ. Goldman Sachs Group Inc. grew its position in MasTec by 163.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock valued at $121,843,000 after purchasing an additional 648,184 shares in the last quarter. Ameriprise Financial Inc. grew its position in MasTec by 171.2% during the first quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company's stock valued at $45,607,000 after purchasing an additional 246,666 shares in the last quarter. AQR Capital Management LLC grew its position in MasTec by 23.6% during 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 in the last quarter. Nuveen LLC bought a new stake in MasTec in the first quarter worth approximately $21,208,000. Finally, Lord Abbett & CO. LLC grew its position in MasTec by 77.8% in the first quarter. Lord Abbett & CO. LLC now owns 307,419 shares of the construction company's stock worth $35,879,000 after acquiring an additional 134,493 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Price Performance

NYSE:MTZ traded up $1.46 during mid-day trading on Friday, reaching $200.91. 1,695,425 shares of the company were exchanged, compared to its average volume of 857,437. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $201.97. The company has a fifty day moving average of $181.79 and a 200 day moving average of $155.22. 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 market cap of $15.85 billion, a PE ratio of 59.44 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The company's revenue was up 19.7% on a year-over-year basis. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. On average, research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the company's 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 transaction, the chief operating officer directly owned 194,249 shares in the company, valued at approximately $33,993,575. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cardenas Alberto De sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the transaction, the executive vice president owned 101,349 shares in the company, valued at approximately $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,000 shares of company stock worth $4,128,070. Company insiders own 21.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus boosted their target price on shares of MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. DA Davidson set a $210.00 price objective on shares of MasTec and gave the stock a "buy" rating in a research note on Monday, August 4th. Wolfe Research upgraded shares of MasTec from a "peer perform" rating to an "outperform" rating and set a $227.00 price objective for the company in a research note on Wednesday. TD Cowen boosted their price objective on shares of MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Barclays restated an "overweight" rating and issued a $200.00 price objective (up from $145.00) on shares of MasTec in a research note on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $197.84.

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.