Electron Capital Partners LLC Sells 304,080 Shares of MasTec, Inc. $MTZ

Key Points

• Electron Capital Partners LLC reduced its holdings in MasTec, Inc. by 29.3%, owning now 732,829 shares, making it the 6th largest position in their portfolio.
• A variety of institutional investors have increased their stakes in MasTec, with some, like Colonial Trust Co SC, boosting their holdings by 335.7% in the last quarter.
• Analysts have a positive outlook on MasTec, with three analysts rating it as a Strong Buy and an average target price of $196.22.

Electron Capital Partners LLC reduced its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 29.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 732,829 shares of the construction company's stock after selling 304,080 shares during the quarter. MasTec makes up 5.6% of Electron Capital Partners LLC's holdings, making the stock its 6th largest position. Electron Capital Partners LLC owned 0.93% of MasTec worth $85,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in MTZ. Merewether Investment Management LP purchased a new stake in shares of MasTec during the 4th quarter worth $46,612,000. Ameriprise Financial Inc. raised its stake in MasTec by 171.2% in the first quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company's stock valued at $45,607,000 after buying an additional 246,666 shares during the last quarter. AQR Capital Management LLC raised its stake in MasTec by 23.6% in the first quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock valued at $106,234,000 after buying an additional 184,277 shares during the last quarter. Nuveen LLC purchased a new stake in MasTec in the first quarter valued at about $21,208,000. Finally, Goodlander Investment Management LLC purchased a new stake in MasTec in the fourth quarter valued at about $23,144,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

MasTec stock traded down $1.47 during midday trading on Monday, hitting $176.53. 752,051 shares of the company were exchanged, compared to its average volume of 1,032,179. The firm has a market capitalization of $13.93 billion, a PE ratio of 52.23 and a beta of 1.81. The business has a fifty day simple moving average of $177.81 and a two-hundred day simple moving average of $151.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. MasTec, Inc. has a fifty-two week low of $98.00 and a fifty-two 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 EPS for the quarter, beating the consensus estimate of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period last year, the company earned $0.96 earnings per share. MasTec's quarterly revenue was up 19.7% compared to the same quarter last year. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. On average, sell-side analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTZ. KeyCorp increased their price target on MasTec from $196.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. increased their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group increased their price target on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Stifel Nicolaus increased their price target on MasTec from $181.00 to $198.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Citigroup cut their price objective on MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, MasTec presently has an average rating of "Buy" and an average price target of $196.22.

Insider Activity at MasTec

In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total value of $1,806,900.00. Following the sale, the executive vice president directly owned 101,349 shares of the company's stock, valued at approximately $18,312,750.81. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

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.