MasTec, Inc. $MTZ Stock: Assenagon Asset Management S.A. Reduces Holdings

Key Points

• Assenagon Asset Management cut its MasTec stake by 21.6% in the third quarter, selling 27,925 shares and retaining 101,274 shares valued at approximately $21.6 million. Institutional investors collectively own 78.1% of the company.
• Analysts remain broadly positive, with 19 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $387.25, despite several recent target reductions.
• MasTec shares opened at $190.76, near their 52-week low of $182.34 and well below the $441.43 high. Its latest quarterly revenue rose 23.4% year over year to $4.37 billion, while EPS of $2.22 narrowly missed estimates.

Assenagon Asset Management S.A. lowered its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 21.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,274 shares of the construction company's stock after selling 27,925 shares during the quarter. Assenagon Asset Management S.A. owned 0.13% of MasTec worth $21,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GK Wealth Management LLC acquired a new stake in MasTec in the 3rd quarter valued at about $29,000. Ascentis Independent Advisors purchased a new position in shares of MasTec in the 1st quarter valued at about $30,000. Bell Investment Advisors Inc acquired a new position in shares of MasTec during the second quarter worth about $32,000. Transamerica Financial Advisors LLC acquired a new position in shares of MasTec during the second quarter worth about $32,000. Finally, Armstrong Advisory Group Inc. grew its position in shares of MasTec by 40.7% during the third quarter. Armstrong Advisory Group Inc. now owns 197 shares of the construction company's stock worth $42,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MTZ shares. Wall Street Zen cut shares of MasTec from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Citigroup dropped their price objective on shares of MasTec from $483.00 to $408.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Piper Sandler reduced their price objective on shares of MasTec from $321.00 to $313.00 and set a "neutral" rating on the stock in a report on Monday, September 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $348.00 price objective on shares of MasTec in a report on Monday, October 12th. Finally, TD Cowen decreased their price objective on shares of MasTec from $420.00 to $320.00 and set a "buy" rating for the company in a research report on Monday, October 5th. Nineteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $387.25.

MasTec Stock Down 0.1%

Shares of NYSE MTZ opened at $190.76 on Monday. The stock has a market cap of $15.32 billion, a PE ratio of 30.42 and a beta of 1.84. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. MasTec, Inc. has a 52-week low of $182.34 and a 52-week high of $441.43. The business has a 50-day moving average price of $235.10 and a 200 day moving average price of $319.75.

MasTec (NYSE:MTZ - Get Free Report) last released 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). MasTec had a return on equity of 18.08% and a net margin of 3.07%. The firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the prior year, the business earned $1.49 EPS. The company's quarterly revenue was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. Equities research analysts forecast that MasTec, Inc. will post 8.87 earnings per share for the current year.

MasTec Profile

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.

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