MasTec, Inc. $MTZ Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its ownership in MasTec by 2.1% in the first quarter, now holding approximately 110,974 shares valued at $12.7 million.
• Several institutional investors, including LPL Financial LLC and KBC Group NV, significantly increased their stakes in MasTec during the same period, indicating growing interest in the construction company's prospects.
• Analysts have notably raised their price targets for MasTec, with estimates reaching up to $227.00, reflecting a positive outlook for the company's future performance amidst strong quarterly results.

Hsbc Holdings PLC lessened its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,974 shares of the construction company's stock after selling 2,372 shares during the quarter. Hsbc Holdings PLC owned about 0.14% of MasTec worth $12,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MTZ. LPL Financial LLC grew its holdings in shares of MasTec by 535.1% during the 1st quarter. LPL Financial LLC now owns 130,314 shares of the construction company's stock worth $15,209,000 after purchasing an additional 109,794 shares during the period. KBC Group NV lifted its position in MasTec by 10.6% during the first quarter. KBC Group NV now owns 2,773 shares of the construction company's stock valued at $324,000 after buying an additional 266 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in MasTec by 37.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock worth $1,915,000 after buying an additional 4,469 shares during the period. GAMMA Investing LLC increased its position in shares of MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock worth $107,000 after acquiring an additional 278 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of MasTec by 33.5% in the first quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company's stock worth $263,000 after acquiring an additional 565 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MasTec

In other news, EVP Cardenas Alberto De sold 10,000 shares of the 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 transaction, the executive vice president 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 SEC, which is accessible through this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MTZ. JPMorgan Chase & Co. lifted their target price on shares of MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Robert W. Baird upgraded MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research note on Monday, August 4th. 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. KeyCorp increased their target price on MasTec from $196.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, The Goldman Sachs Group boosted their price target on MasTec from $195.00 to $227.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $195.12.

MasTec Stock Up 1.8%

Shares of NYSE MTZ opened at $176.7770 on Monday. 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 1 year low of $96.01 and a 1 year high of $194.00. The stock's 50-day simple moving average is $174.98 and its 200-day simple moving average is $148.25. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 52.30 and a beta of 1.83.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the business posted $0.96 earnings per share. MasTec's revenue for the quarter was up 19.7% on a year-over-year basis. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

MasTec 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.

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