The Manufacturers Life Insurance Company Buys 27,447 Shares of MasTec, Inc. $MTZ

Key Points

• The Manufacturers Life Insurance Company increased its stake in MasTec, Inc. by 11.0%, owning approximately 0.35% of the company valued at $32.3 million.
• MasTec reported stronger-than-expected earnings of $1.49 per share and revenue of $3.55 billion for the quarter, beating analysts' estimates significantly.
• Wall Street analysts have a positive outlook on MasTec, with multiple price target increases; the average rating is "Buy" with an average target price of $195.12.

The Manufacturers Life Insurance Company increased its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 276,879 shares of the construction company's stock after buying an additional 27,447 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.35% of MasTec worth $32,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MTZ. Colonial Trust Co SC boosted its stake in shares of MasTec by 335.7% during the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of MasTec by 2,023.1% during the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of MasTec during the 1st quarter valued at approximately $35,000. Harbor Investment Advisory LLC raised its position in shares of MasTec by 147.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in MasTec during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Buying and Selling at MasTec

In related news, 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 completion of the sale, the executive vice president owned 101,349 shares of the company's stock, valued at $18,312,750.81. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer directly owned 194,249 shares of the company's stock, valued at approximately $33,993,575. This trade represents a 4.90% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

Analyst Ratings Changes

MTZ has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of MasTec from $195.00 to $227.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. DA Davidson set a $210.00 target price on MasTec and gave the stock a "buy" rating in a research report on Monday, August 4th. Wall Street Zen upgraded shares of MasTec from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Robert W. Baird raised MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a report on Monday, August 4th. Finally, Stifel Nicolaus upped their price objective on shares of MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, MasTec presently has a consensus rating of "Buy" and a consensus target price of $196.22.

MasTec Stock Performance

NYSE MTZ traded down $4.45 on Friday, hitting $178.07. 1,119,821 shares of the stock were exchanged, compared to its average volume of 1,033,836. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The business's fifty day moving average is $177.69 and its 200 day moving average is $150.72. The company has a market capitalization of $14.05 billion, a PE ratio of 52.68 and a beta of 1.81. 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 issued its quarterly earnings data 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 analyst estimates of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company's revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm 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. Research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.