Northern Trust Corp Decreases Stake in MasTec, Inc. $MTZ

Key Points

• Northern Trust Corp has reduced its stake in MasTec, Inc. by 5%, owning approximately $57.79 million worth of stock, following the sale of 26,004 shares in the first quarter.
• MasTec's recent quarterly earnings report showed a strong performance with $3.55 billion in revenue and an EPS of $1.49, exceeding analyst expectations.
• Multiple analysts have upgraded MasTec's stock rating, with target prices now reaching up to $209.00, indicating a positive outlook for the company's future performance.

Northern Trust Corp trimmed its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 495,138 shares of the construction company's stock after selling 26,004 shares during the quarter. Northern Trust Corp owned approximately 0.63% of MasTec worth $57,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC bought a new stake in shares of MasTec in the 4th quarter worth approximately $227,000. Mariner LLC grew its position in shares of MasTec by 20.9% in the 4th quarter. Mariner LLC now owns 2,639 shares of the construction company's stock worth $359,000 after buying an additional 457 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of MasTec by 16.1% in the 4th quarter. NewEdge Advisors LLC now owns 3,325 shares of the construction company's stock worth $453,000 after buying an additional 462 shares during the last quarter. Stifel Financial Corp grew its position in shares of MasTec by 16.7% in the 4th quarter. Stifel Financial Corp now owns 11,788 shares of the construction company's stock worth $1,605,000 after buying an additional 1,683 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of MasTec by 4.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,117 shares of the construction company's stock worth $6,279,000 after buying an additional 1,915 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp lifted their price objective on MasTec from $196.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Guggenheim reiterated a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research report on Monday, May 5th. Piper Sandler lifted their price objective on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. TD Cowen raised their target price on MasTec from $175.00 to $195.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, Barclays restated an "overweight" rating and issued a $200.00 target price (up previously from $145.00) on shares of MasTec in a research note on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $195.12.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of MasTec stock in a transaction on 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 completion of the transaction, the chief operating officer owned 194,249 shares in the company, valued at approximately $33,993,575. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction on Tuesday, August 5th. The shares were 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 of the company's stock, valued at $18,312,750.81. The trade was a 8.98% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by insiders.

MasTec Stock Down 1.4%

NYSE:MTZ traded down $2.56 during trading hours on Monday, reaching $181.89. 1,124,245 shares of the company traded hands, compared to its average volume of 894,126. The business's 50-day moving average price is $176.73 and its two-hundred day moving average price is $149.66. The stock has a market capitalization of $14.35 billion, a P/E ratio of 53.81 and a beta of 1.81. MasTec, Inc. has a 1 year low of $96.01 and a 1 year high of $194.00. 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 announced its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.08. The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The firm's quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

MasTec 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.