MasTec, Inc. $MTZ Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in MasTec, Inc. by 2.4%, bringing its total ownership to 533,386 shares valued at approximately $62.25 million.
• MasTec, Inc. reported $1.49 EPS for the latest quarter, exceeding analysts' expectations of $1.41 EPS and achieving a 19.7% year-over-year revenue increase.
• Several financial institutions have increased their stakes in MasTec, with hedge funds now holding 78.10% of the company's stock, indicating strong institutional interest.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 533,386 shares of the construction company's stock after selling 13,038 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.68% of MasTec worth $62,251,000 at the end of the most recent quarter.

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

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief operating officer owned 194,249 shares in the company, valued at $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of MasTec 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 transaction, the executive vice president owned 101,349 shares in the company, valued at approximately $18,312,750.81. The trade was a 8.98% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

MasTec Stock Performance

Shares of MTZ stock traded up $0.52 during mid-day trading on Thursday, reaching $190.64. The stock had a trading volume of 355,045 shares, compared to its average volume of 1,029,186. The firm has a market cap of $15.04 billion, a price-to-earnings ratio of 56.42 and a beta of 1.81. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $194.00. The business's fifty day moving average is $178.48 and its 200-day moving average is $152.03. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.41 by $0.08. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.MasTec's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. On average, research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTZ. JPMorgan Chase & Co. increased their target price on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Citigroup cut their price target on MasTec from $220.00 to $219.00 and set a "buy" rating for the company in a report on Monday, August 4th. Roth Capital assumed coverage on MasTec in a report on Tuesday, July 1st. They set a "buy" rating and a $210.00 price objective for the company. Jefferies Financial Group started coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 price objective for the company. Finally, Baird R W upgraded MasTec from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, MasTec has a consensus rating of "Buy" and a consensus target price of $196.22.

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.