Ninepoint Partners LP Buys Shares of 4,037 MasTec, Inc. $MTZ

Key Points

• Ninepoint Partners initiated a position in MasTec by purchasing 4,037 shares valued at approximately $1.68 million. Institutional investors collectively own 78.1% of the company.
• MasTec’s latest quarterly revenue rose 23.4% year over year to $4.37 billion, exceeding estimates, while EPS of $2.22 narrowly missed the $2.23 consensus forecast.
• Analysts maintain a bullish outlook, with a consensus “Buy” rating and an average price target of $427.32, despite several firms recently lowering their targets.

Ninepoint Partners LP purchased a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,037 shares of the construction company's stock, valued at approximately $1,680,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTZ. BlackRock Inc. bought a new stake in shares of MasTec in the 2nd quarter valued at $3,178,069,000. Victory Capital Management Inc. lifted its holdings in MasTec by 178.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company's stock valued at $573,304,000 after buying an additional 1,690,896 shares during the period. Peconic Partners LLC lifted its holdings in MasTec by 113.3% in the fourth quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company's stock valued at $347,792,000 after buying an additional 850,000 shares during the period. First Trust Advisors LP lifted its holdings in MasTec by 7.6% in the first quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company's stock valued at $454,163,000 after buying an additional 100,151 shares during the period. Finally, Bank of America Corp DE boosted its position in MasTec by 6.0% during the first quarter. Bank of America Corp DE now owns 1,330,066 shares of the construction company's stock valued at $427,935,000 after acquiring an additional 75,100 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the sale, the director owned 10,816 shares of the company's stock, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 21.40% of the company's stock.

MasTec Price Performance

Shares of NYSE MTZ opened at $271.03 on Friday. The firm's 50-day moving average price is $339.52 and its 200-day moving average price is $337.46. MasTec, Inc. has a 1-year low of $171.05 and a 1-year high of $441.43. The firm has a market capitalization of $21.77 billion, a P/E ratio of 43.23 and a beta of 1.81. 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 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. The business's quarterly revenue was up 23.4% on a year-over-year basis. 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 anticipate that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of recent analyst reports. UBS Group decreased their price target on MasTec from $453.00 to $410.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Robert W. Baird dropped their price objective on MasTec from $475.00 to $363.00 and set an "outperform" rating on the stock in a research note on Monday, August 3rd. Cantor Fitzgerald raised their target price on MasTec from $545.00 to $581.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Stifel Nicolaus set a $455.00 target price on MasTec in a report on Monday, May 4th. Finally, TD Cowen dropped their price target on MasTec from $470.00 to $420.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $427.32.

MasTec Company 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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