Algert Global LLC Increases Holdings in MasTec, Inc. $MTZ

Key Points

• Algert Global LLC increased its position in MasTec, Inc. by 7.2% in the first quarter, acquiring a total of 49,744 shares worth approximately $5.8 million.
• Multiple analysts have upgraded their ratings and target prices for MasTec, with TD Cowen raising its target from $175 to $195, indicating a general positive outlook on the stock.
• MasTec reported earnings of $1.49 EPS for the last quarter, exceeding analysts' expectations of $1.41 EPS, alongside a year-over-year revenue increase of 19.7%.

Algert Global LLC boosted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,744 shares of the construction company's stock after buying an additional 3,340 shares during the period. Algert Global LLC owned approximately 0.06% of MasTec worth $5,806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTZ. Brighton Jones LLC bought a new position in MasTec during the 4th quarter valued at approximately $227,000. Envestnet Asset Management Inc. increased its holdings in shares of MasTec by 37.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 34,593 shares of the construction company's stock worth $4,710,000 after purchasing an additional 9,434 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of MasTec in the 4th quarter worth $17,776,000. Rockefeller Capital Management L.P. increased its holdings in shares of MasTec by 0.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock worth $1,883,000 after purchasing an additional 105 shares in the last quarter. Finally, Mariner LLC increased its holdings in shares of MasTec by 20.9% in the 4th quarter. Mariner LLC now owns 2,639 shares of the construction company's stock worth $359,000 after purchasing an additional 457 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Insider Buying and Selling at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on Wednesday, July 16th. The stock was 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. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cardenas Alberto De sold 10,000 shares of the business's 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 transaction, the executive vice president owned 101,349 shares in the company, valued at $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. 21.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on MTZ. Robert W. Baird raised 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. JPMorgan Chase & Co. lifted their target price on MasTec from $180.00 to $214.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Jefferies Financial Group started coverage on MasTec in a report on Friday, May 16th. They issued a "buy" rating and a $188.00 price objective for the company. DA Davidson set a $210.00 price objective on MasTec and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group lifted their price objective on MasTec from $195.00 to $227.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $195.12.

MasTec Stock Performance

NYSE MTZ traded up $3.1070 on Friday, hitting $176.7770. 777,672 shares of the company traded hands, compared to its average volume of 1,100,845. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 52.30 and a beta of 1.83. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The business's 50 day moving average price is $174.98 and its 200-day moving average price is $148.15. MasTec, Inc. has a 52-week low of $96.01 and a 52-week high of $194.00.

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

About MasTec

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.