MasTec, Inc. $MTZ Shares Sold by Makena Capital Management LLC

Key Points

• Makena Capital Management reduced its MasTec stake by 16.1% in the fourth quarter, selling 19,662 shares and leaving it with 102,423 shares worth about $22.3 million.
• Wall Street remains upbeat on MTZ, with 17 Buy ratings and 3 Hold ratings; the consensus price target is $422.29, and several analysts recently raised their targets.
• MasTec reported better-than-expected quarterly results, posting EPS of $1.39 versus the $0.98 estimate and revenue of $3.83 billion, up 34.5% year over year.

Makena Capital Management LLC trimmed its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,423 shares of the construction company's stock after selling 19,662 shares during the period. MasTec makes up about 2.7% of Makena Capital Management LLC's holdings, making the stock its 13th biggest position. Makena Capital Management LLC owned approximately 0.13% of MasTec worth $22,264,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its position in MasTec by 14.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,593 shares of the construction company's stock valued at $3,531,000 after buying an additional 2,158 shares during the last quarter. Marco Investment Management LLC grew its position in MasTec by 28.2% in the 3rd quarter. Marco Investment Management LLC now owns 31,605 shares of the construction company's stock valued at $6,726,000 after buying an additional 6,955 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in MasTec by 50.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 70,500 shares of the construction company's stock valued at $15,325,000 after acquiring an additional 23,500 shares during the period. Fidelis Capital Partners LLC acquired a new stake in MasTec in the third quarter valued at $1,870,000. Finally, Stephens Inc. AR lifted its holdings in MasTec by 583.4% in the third quarter. Stephens Inc. AR now owns 25,074 shares of the construction company's stock valued at $5,336,000 after acquiring an additional 21,405 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MTZ shares. Stifel Nicolaus set a $455.00 target price on MasTec in a report on Monday. TD Cowen raised their target price on MasTec from $320.00 to $445.00 and gave the company a "buy" rating in a report on Monday, May 4th. Cantor Fitzgerald raised their target price on MasTec from $274.00 to $347.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. KeyCorp lifted their price target on shares of MasTec from $406.00 to $460.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Zacks Research downgraded shares of MasTec from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 4th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $422.29.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $300.40, for a total transaction of $1,952,600.00. Following the completion of the transaction, the director owned 17,235 shares of the company's stock, valued at $5,177,394. The trade was a 27.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Monday, May 4th. The stock was sold at an average price of $417.00, for a total value of $1,251,000.00. Following the transaction, the director directly owned 30,646 shares of the company's stock, valued at $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. Insiders sold 10,450 shares of company stock valued at $3,512,759 in the last 90 days. 21.40% of the stock is currently owned by insiders.

MasTec Trading Up 0.5%

NYSE:MTZ opened at $414.15 on Friday. The company has a market capitalization of $32.73 billion, a PE ratio of 72.53 and a beta of 1.82. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 52-week low of $145.27 and a 52-week high of $441.43. The stock has a fifty day simple moving average of $336.83 and a 200-day simple moving average of $265.11.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.41. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.47 billion. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The business's revenue was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. 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 8.52 earnings per share for the current fiscal year.

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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