Lord Abbett & CO. LLC Has $35.88 Million Stock Position in MasTec, Inc. $MTZ

Key Points

• Lord Abbett & CO. LLC significantly increased its stake in MasTec, Inc. by 77.8%, owning about 0.39% of the company with shares valued at $35.88 million as of their latest filing.
• MasTec reported a quarterly Earnings Per Share (EPS) of $1.49, exceeding expectations and reflecting a 19.7% increase in revenue compared to the previous year.
• Analysts are optimistic about MasTec, with multiple upgrades leading to an average price target of $195.12, and a consensus rating of Buy from investment analysts.

Lord Abbett & CO. LLC boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 77.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,419 shares of the construction company's stock after acquiring an additional 134,493 shares during the quarter. Lord Abbett & CO. LLC owned 0.39% of MasTec worth $35,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTZ. Hood River Capital Management LLC lifted its holdings in shares of MasTec by 3.5% during the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock worth $208,444,000 after purchasing an additional 51,531 shares during the period. AQR Capital Management LLC increased its holdings in MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after purchasing an additional 91,564 shares during the period. Balyasny Asset Management L.P. raised its position in MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after purchasing an additional 363,502 shares during the last quarter. First Trust Advisors LP lifted its holdings in MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock worth $80,021,000 after buying an additional 373,145 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in MasTec by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock worth $65,440,000 after buying an additional 4,024 shares during the period. 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 company's 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 in the company, valued at approximately $18,312,750.81. This 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 link. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the transaction, the chief operating officer directly owned 194,249 shares in the company, valued at $33,993,575. This trade represents a 4.90% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

MasTec Trading Down 1.8%

Shares of MasTec stock traded down $3.0760 on Wednesday, reaching $172.1840. 1,500,196 shares of the company's stock were exchanged, compared to its average volume of 1,078,121. The company has a market capitalization of $13.59 billion, a P/E ratio of 50.94 and a beta of 1.83. MasTec, Inc. has a 52 week low of $96.01 and a 52 week high of $194.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The firm's 50-day moving average is $174.48 and its two-hundred day moving average is $147.68.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on MTZ. 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 upped their target price on MasTec from $181.00 to $198.00 and gave the company a "buy" rating in a report on Monday, August 4th. Barclays reissued an "overweight" rating and set a $200.00 target price (up previously from $145.00) on shares of MasTec in a research report on Monday, July 21st. Guggenheim restated a "buy" rating and issued a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of MasTec from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, MasTec has a consensus rating of "Buy" and an average price target of $195.12.

MasTec Company 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.