MasTec, Inc. $MTZ Shares Sold by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. reduced its MasTec stake by 32.9% in the second quarter, selling 36,150 shares and retaining 73,763 shares worth approximately $30.7 million. Institutional investors and hedge funds collectively own 78.1% of MTZ.
• MasTec reported quarterly revenue of $4.37 billion, up 23.4% year over year and above expectations, but adjusted EPS of $2.22 narrowly missed the $2.23 consensus estimate.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $431.42, despite recent target reductions from some firms. Director Ernst N. Csiszar also sold 6,500 shares, reducing his ownership by 37.54%.

Community Trust & Investment Co. trimmed its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 32.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,763 shares of the construction company's stock after selling 36,150 shares during the quarter. MasTec makes up about 1.6% of Community Trust & Investment Co.'s portfolio, making the stock its 15th biggest holding. Community Trust & Investment Co. owned 0.09% of MasTec worth $30,690,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of MasTec by 178.6% during the 4th 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 during the period. Peconic Partners LLC lifted its position in shares of MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company's stock valued at $347,792,000 after buying an additional 850,000 shares in the last quarter. First Trust Advisors LP grew its stake in MasTec by 7.6% in the 1st quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company's stock valued at $454,163,000 after acquiring an additional 100,151 shares during the period. Bank of America Corp DE increased its holdings in MasTec by 6.0% in the 1st quarter. Bank of America Corp DE now owns 1,330,066 shares of the construction company's stock worth $427,935,000 after acquiring an additional 75,100 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in MasTec by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 1,220,703 shares of the construction company's stock worth $265,395,000 after acquiring an additional 94,344 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ernst N. Csiszar sold 6,500 shares of the company'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 completion of the transaction, the director directly owned 10,816 shares of the company's stock, valued at $4,014,574.72. This represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 21.40% of the company's stock.

MasTec Stock Up 5.5%

Shares of NYSE MTZ opened at $272.83 on Friday. 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 business's 50 day moving average is $353.78 and its two-hundred day moving average is $334.44. MasTec, Inc. has a 52-week low of $167.66 and a 52-week high of $441.43. The firm has a market cap of $21.91 billion, a price-to-earnings ratio of 43.51 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.01). The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.30 billion. MasTec had a return on equity of 18.08% and a net margin of 3.07%.The firm's revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the company earned $1.49 earnings per share. 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 predict that MasTec, Inc. will post 8.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of MasTec from $471.00 to $491.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Citigroup dropped their price objective 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. KeyCorp cut their price objective on shares of MasTec from $500.00 to $371.00 and set an "overweight" rating for the company in a report on Monday. Stifel Nicolaus set a $455.00 target price on shares of MasTec in a research note on Monday, May 4th. Finally, The Goldman Sachs Group boosted their target price on MasTec from $348.00 to $487.00 and gave the stock a "buy" rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $431.42.

MasTec Company 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.

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