MasTec, Inc. $MTZ Shares Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in MasTec by 3.1% in the first quarter, bringing its holdings to 656,104 shares valued at about $211.1 million.
• MasTec reported strong quarterly earnings, posting $1.39 EPS versus $0.98 expected and revenue of $3.83 billion, up 34.5% year over year.
• Despite solid fundamentals, the stock was down 3.3% and several insiders recently sold shares, while analysts remain broadly positive with a Moderate Buy consensus and a $464.78 price target.

Bank of New York Mellon Corp raised its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 656,104 shares of the construction company's stock after purchasing an additional 19,745 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of MasTec worth $211,095,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MTZ. Victory Capital Management Inc. boosted its holdings in MasTec by 178.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company's stock worth $573,304,000 after buying an additional 1,690,896 shares in the last quarter. Peconic Partners LLC increased its position in shares of 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 acquiring an additional 850,000 shares in the last quarter. Coatue Management LLC purchased a new stake in shares of MasTec in the 4th quarter valued at approximately $147,357,000. Merewether Investment Management LP grew its position in MasTec by 59.8% during the 3rd quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company's stock worth $184,557,000 after purchasing an additional 324,500 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of MasTec by 71.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 732,886 shares of the construction company's stock valued at $155,965,000 after purchasing an additional 304,358 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Stock Down 3.3%

Shares of MasTec stock opened at $329.68 on Friday. The firm has a market cap of $26.05 billion, a price-to-earnings ratio of 57.74 and a beta of 1.77. The stock has a 50-day simple moving average of $381.05 and a 200-day simple moving average of $326.07. MasTec, Inc. has a 52-week low of $160.08 and a 52-week high of $441.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.32 and a quick ratio of 1.28.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.41. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The company's revenue for the quarter was up 34.5% on a year-over-year basis. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. On average, equities research analysts expect that MasTec, Inc. will post 9.18 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the transaction, the director directly owned 10,816 shares of the company's stock, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $417.00, for a total value of $1,251,000.00. Following the transaction, the director owned 30,646 shares in the company, valued at approximately $12,779,382. This trade represents a 8.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 21.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTZ. JPMorgan Chase & Co. increased their price objective on MasTec from $471.00 to $491.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Cantor Fitzgerald increased their price target on shares of MasTec from $545.00 to $581.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. B. Riley Financial restated a "buy" rating on shares of MasTec in a report on Monday, May 4th. Stifel Nicolaus set a $455.00 price objective on shares of MasTec in a research report on Monday, May 4th. Finally, Weiss Ratings lowered shares of MasTec from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 23rd. Nineteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $464.78.

About MasTec

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.

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