M&T Bank Corp Acquires 2,453 Shares of MasTec, Inc. $MTZ

Key Points

• M&T Bank Corp increased its stake in MasTec by 87% in the fourth quarter, buying 2,453 additional shares and bringing its total holding to 5,271 shares valued at about $1.145 million.
• MasTec reported strong quarterly results, with EPS of $1.39 versus the $0.98 consensus and revenue of $3.83 billion, up 34.5% year over year.
• Analysts remain bullish on the stock: several firms raised price targets, and the overall rating is Moderate Buy with an average target price of $422.29.

M&T Bank Corp boosted its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 87.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,271 shares of the construction company's stock after acquiring an additional 2,453 shares during the quarter. M&T Bank Corp's holdings in MasTec were worth $1,145,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MTZ. Migdal Insurance & Financial Holdings Ltd. bought a new position in MasTec in the 4th quarter valued at about $30,000. Root Financial Partners LLC bought a new position in MasTec in the 3rd quarter valued at about $49,000. Northwestern Mutual Wealth Management Co. lifted its position in MasTec by 105.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company's stock valued at $61,000 after acquiring an additional 182 shares in the last quarter. CI Investments Inc. lifted its position in MasTec by 39.9% in the 3rd quarter. CI Investments Inc. now owns 319 shares of the construction company's stock valued at $68,000 after acquiring an additional 91 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in MasTec by 20.1% in the 3rd quarter. Rothschild Investment LLC now owns 406 shares of the construction company's stock valued at $86,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on MTZ shares. Mizuho lifted their target price on shares of MasTec from $428.00 to $498.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their target price on shares of MasTec from $346.00 to $386.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Barclays lifted their target price on shares of MasTec from $260.00 to $340.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Truist Financial lifted their target price on shares of MasTec from $425.00 to $518.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, DA Davidson lifted their target price on shares of MasTec from $250.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $422.29.

MasTec Price Performance

MasTec stock opened at $414.15 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The stock has a market cap of $32.73 billion, a P/E ratio of 72.53 and a beta of 1.82. The company's 50 day moving average price is $336.83 and its two-hundred day moving average price is $265.11. MasTec, Inc. has a 52 week low of $145.27 and a 52 week high of $441.43.

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

Insider Activity

In other news, Director Javier Alberto Palomarez sold 950 shares of the business's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $325.43, for a total transaction of $309,158.50. Following the completion of the transaction, the director directly owned 10,592 shares in the company, valued at $3,446,954.56. The trade was a 8.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the transaction, the director owned 30,646 shares of the company's stock, valued at $12,779,382. This trade represents a 8.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,450 shares of company stock worth $3,512,759 in the last three months. Corporate insiders own 21.40% of the company's stock.

MasTec 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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