Oliver Luxxe Assets LLC Invests $1.70 Million in MasTec, Inc. $MTZ

Key Points

• Oliver Luxxe Assets LLC has purchased a new stake in MasTec, Inc., investing approximately $1.70 million for 14,588 shares during the first quarter.
• Analysts have shown a positive outlook on MasTec, with multiple upgrades to "strong-buy" and "buy" ratings, alongside rising price targets that reflect confidence in the stock's performance.
• MasTec reported a 19.7% increase in revenue year-over-year, with earnings per share of $1.49, exceeding analysts' expectations and solidifying its position in the market.

Oliver Luxxe Assets LLC acquired a new position in MasTec, Inc. (NYSE:MTZ - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,588 shares of the construction company's stock, valued at approximately $1,703,000.

Other large investors have also recently bought and sold shares of the company. Penn Capital Management Company LLC lifted its stake in shares of MasTec by 185.9% in the 1st quarter. Penn Capital Management Company LLC now owns 17,146 shares of the construction company's stock worth $2,031,000 after acquiring an additional 11,149 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of MasTec by 171.2% in the first quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company's stock valued at $45,607,000 after buying an additional 246,666 shares during the period. Capital Fund Management S.A. grew its stake in shares of MasTec by 351.9% in the 1st quarter. Capital Fund Management S.A. now owns 29,224 shares of the construction company's stock worth $3,411,000 after purchasing an additional 40,824 shares during the last quarter. Erste Asset Management GmbH boosted its stake in shares of MasTec by 5.6% during the 1st quarter. Erste Asset Management GmbH now owns 25,638 shares of the construction company's stock worth $2,955,000 after acquiring an additional 1,353 shares in the last quarter. Finally, Venture Visionary Partners LLC acquired a new stake in MasTec during the 1st quarter worth about $263,000. Institutional investors and hedge funds own 78.10% of the company's stock.

Insider Activity

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

Analyst Ratings Changes

Several research firms recently weighed in on MTZ. The Goldman Sachs Group upped their price target on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Robert W. Baird raised shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Monday, August 4th. DA Davidson set a $210.00 price objective on MasTec and gave the company a "buy" rating in a research report on Monday, August 4th. Wall Street Zen upgraded MasTec from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Baird R W upgraded shares of MasTec from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $195.12.

MasTec Stock Up 2.5%

Shares of MTZ stock traded up $4.51 on Thursday, hitting $184.51. 706,315 shares of the stock were exchanged, compared to its average volume of 1,036,840. The business has a 50-day moving average of $175.97 and a 200 day moving average of $148.93. MasTec, Inc. has a fifty-two week low of $96.01 and a fifty-two week high of $194.00. The firm has a market capitalization of $14.56 billion, a P/E ratio of 54.59 and a beta of 1.83. 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 released its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The business's revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. Equities analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

About MasTec

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.