Kingswood Wealth Advisors LLC Sells 2,405 Shares of MasTec, Inc. $MTZ

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in MasTec, Inc. by 8.4%, selling 2,405 shares and maintaining a total of 26,093 shares valued at approximately $4.45 million.
• MasTec reported quarterly earnings of $1.49 per share, surpassing analysts' expectations of $1.41, with year-over-year revenue growth of 19.7%.
• Several institutional investors have increased their stakes in MasTec, with hedge funds now owning 78.10% of the company's stock.

Kingswood Wealth Advisors LLC reduced its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 8.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,093 shares of the construction company's stock after selling 2,405 shares during the period. Kingswood Wealth Advisors LLC's holdings in MasTec were worth $4,447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Forum Financial Management LP lifted its stake in MasTec by 3.9% during the 1st quarter. Forum Financial Management LP now owns 2,097 shares of the construction company's stock valued at $245,000 after acquiring an additional 78 shares during the period. Parallel Advisors LLC increased its stake in shares of MasTec by 37.1% in the 2nd quarter. Parallel Advisors LLC now owns 303 shares of the construction company's stock worth $52,000 after purchasing an additional 82 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of MasTec by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the construction company's stock worth $2,007,000 after buying an additional 100 shares during the period. Securian Asset Management Inc. raised its stake in MasTec by 2.2% during the 1st quarter. Securian Asset Management Inc. now owns 4,719 shares of the construction company's stock worth $551,000 after acquiring an additional 100 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of MasTec by 16.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company's stock valued at $87,000 after purchasing an additional 104 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of MTZ stock opened at $216.87 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The stock's 50-day simple moving average is $188.94 and its 200-day simple moving average is $162.68. MasTec, Inc. has a fifty-two week low of $99.70 and a fifty-two week high of $221.83. The firm has a market capitalization of $17.11 billion, a price-to-earnings ratio of 64.16 and a beta of 1.82.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the company earned $0.96 earnings per share. 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. As a group, equities analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction dated 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 completion of the transaction, the executive vice president owned 101,349 shares in the company, valued at approximately $18,312,750.81. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the sale, the chief operating officer owned 184,249 shares in the company, valued at $36,930,869.56. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,000 shares of company stock valued at $6,553,250. Company insiders own 21.30% of the company's stock.

Wall Street Analyst Weigh In

MTZ has been the topic of several research analyst reports. Citigroup boosted their target price on shares of MasTec from $219.00 to $248.00 and gave the stock a "buy" rating in a report on Friday. Robert W. Baird upgraded MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a report on Monday, August 4th. Mizuho started coverage on shares of MasTec in a research note on Thursday, September 4th. They set an "outperform" rating and a $215.00 price target for the company. TD Cowen upped their price objective on MasTec from $175.00 to $195.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, UBS Group increased their price objective on MasTec from $206.00 to $252.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, MasTec currently has an average rating of "Buy" and a consensus target price of $210.37.

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.

Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.