Legal & General Group Plc Buys New Holdings in MasTec, Inc. $MTZ

Legal & General Group Plc acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 181,874 shares of the construction company's stock, valued at approximately $75,670,000. Legal & General Group Plc owned approximately 0.23% of MasTec at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MTZ. BlackRock Inc. bought a new stake in MasTec during the 2nd quarter worth approximately $3,178,069,000. Victory Capital Management Inc. raised its position in MasTec by 178.6% in 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 last quarter. Hill City Capital LP bought a new position in MasTec in the 2nd quarter valued at $896,609,300,000. Peconic Partners LLC boosted its stake in MasTec by 113.3% in the fourth 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 in the last quarter. Finally, First Trust Advisors LP boosted its stake in MasTec by 7.6% in the first 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 in the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Price Performance

Shares of MTZ stock opened at $251.15 on Friday. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 40.06 and a beta of 1.81. MasTec, Inc. has a 12 month low of $171.05 and a 12 month high of $441.43. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $327.72 and a 200 day moving average price of $337.72.

MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.01). The business 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 firm's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the business posted $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. Research analysts expect that MasTec, Inc. will post 8.91 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Guggenheim raised their target price on MasTec from $480.00 to $518.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Weiss Ratings cut shares of MasTec from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Citigroup dropped their target price on shares of MasTec from $483.00 to $408.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. UBS Group decreased their price target on shares of MasTec from $453.00 to $410.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Finally, Mizuho lowered their price target on shares of MasTec from $502.00 to $457.00 and set an "outperform" rating for the company in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $427.32.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the completion of the sale, the director owned 10,816 shares of the company's stock, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.40% of the company's stock.

MasTec Profile

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source