NewEdge Advisors LLC Grows Stake in MasTec, Inc. $MTZ

Key Points

• NewEdge Advisors increased its MasTec stake by 157.6% in the second quarter, owning 8,841 shares valued at approximately $3.68 million. Institutional investors collectively hold 78.1% of the company.
• Analysts remain broadly positive, with one Strong Buy, 19 Buy and two Hold ratings; MasTec has a consensus “Moderate Buy” rating and an average price target of $422, despite recent target cuts.
• MasTec reported quarterly revenue of $4.37 billion, up 23.4% year over year, but narrowly missed EPS estimates at $2.22 versus $2.23. Shares opened at $222.60, well below their 52-week high of $441.43.

NewEdge Advisors LLC lifted its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 157.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,841 shares of the construction company's stock after purchasing an additional 5,409 shares during the quarter. NewEdge Advisors LLC's holdings in MasTec were worth $3,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transamerica Financial Advisors LLC bought a new stake in MasTec during the second quarter valued at $32,000. Bell Investment Advisors Inc bought a new position in MasTec in the 2nd quarter worth about $32,000. Ascentis Independent Advisors purchased a new stake in shares of MasTec in the 1st quarter valued at about $30,000. Solstein Capital LLC purchased a new stake in shares of MasTec in the 2nd quarter valued at about $58,000. Finally, GHP Investment Advisors Inc. bought a new stake in shares of MasTec during the 1st quarter valued at about $65,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MTZ shares. TD Cowen cut their price objective on MasTec from $470.00 to $420.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Truist Financial reiterated a "buy" rating and set a $428.00 target price (down from $550.00) on shares of MasTec in a research report on Monday, August 3rd. Weiss Ratings cut shares of MasTec from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. CICC Research initiated coverage on shares of MasTec in a report on Thursday, May 21st. They issued an "outperform" rating and a $480.00 price target on the stock. Finally, Robert W. Baird decreased their price target on shares of MasTec from $475.00 to $363.00 and set an "outperform" rating on the stock in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given 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 $422.00.

MasTec Stock Performance

Shares of NYSE MTZ opened at $222.60 on Wednesday. The stock's 50-day moving average is $287.30 and its 200 day moving average is $334.46. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 35.50 and a beta of 1.82. MasTec, Inc. has a 1-year low of $182.34 and a 1-year high of $441.43. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71.

MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the prior year, the company earned $1.49 EPS. The firm'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. On average, sell-side analysts anticipate that MasTec, Inc. will post 8.9 EPS for the current fiscal year.

About MasTec

MasTec, Inc is an infrastructure construction and engineering company that serves communications, energy and utility customers. The company provides design, construction, installation, maintenance and upgrade services for infrastructure projects across the United States and, in certain activities, Canada.

MasTec's communications business supports wireless, wireline and broadband networks, including fiber-optic systems, 5G infrastructure and other communications facilities. Its energy and infrastructure operations serve electric utilities, renewable energy developers and other industrial customers through services such as power transmission and distribution construction, solar and wind project development, pipeline construction and other related infrastructure work.

MasTec traces its roots to the telecommunications and utility construction businesses and was formed as MasTec in 1994.

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