OP Asset Management Ltd Purchases New Stake in MasTec, Inc. $MTZ

Key Points

• OP Asset Management Ltd opened a new position in MasTec during the first quarter, buying 183,332 shares worth about $58.99 million. The stake represents 0.6% of its portfolio and 0.23% of MasTec.
• Wall Street sentiment on MasTec remains positive, with multiple analysts raising price targets and the stock carrying a consensus rating of “Buy” and an average target price of $459.28.
• MasTec recently reported better-than-expected quarterly results, including EPS of $1.39 versus estimates of $0.98 and revenue of $3.83 billion, up 34.5% year over year.

OP Asset Management Ltd acquired a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 183,332 shares of the construction company's stock, valued at approximately $58,985,000. MasTec comprises 0.6% of OP Asset Management Ltd's investment portfolio, making the stock its 26th biggest position. OP Asset Management Ltd owned 0.23% of MasTec at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MasTec during the fourth quarter worth $30,000. CIBC Private Wealth Group LLC boosted its holdings in shares of MasTec by 372.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company's stock valued at $51,000 after buying an additional 186 shares during the period. Covestor Ltd grew its position in shares of MasTec by 102.6% during the 4th quarter. Covestor Ltd now owns 314 shares of the construction company's stock valued at $68,000 after buying an additional 159 shares during the last quarter. CI Investments Inc. raised its stake in MasTec by 39.9% during the third quarter. CI Investments Inc. now owns 319 shares of the construction company's stock worth $68,000 after acquiring an additional 91 shares during the period. Finally, Harbour Investments Inc. raised its stake in MasTec by 671.4% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the construction company's stock worth $70,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup lifted their target price on MasTec from $440.00 to $483.00 and gave the company a "buy" rating in a research note on Monday, May 4th. CICC Research assumed coverage on MasTec in a research report on Thursday, May 21st. They set an "outperform" rating and a $480.00 price target on the stock. Zacks Research upgraded MasTec from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 29th. Cantor Fitzgerald upped their price objective on MasTec from $347.00 to $545.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $455.00 target price on MasTec in a research report on Monday, May 4th. One investment 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $459.28.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $417.00, for a total value of $1,251,000.00. Following the completion of the sale, the director owned 30,646 shares of the company's stock, valued at $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the completion of the transaction, the director owned 10,816 shares of the company's stock, valued at $4,014,574.72. This represents a 37.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 21.40% of the company's stock.

MasTec Stock Performance

MTZ opened at $391.58 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The business's 50 day moving average is $383.93 and its 200-day moving average is $308.12. The stock has a market cap of $30.94 billion, a PE ratio of 68.58 and a beta of 1.77. MasTec, Inc. has a twelve month low of $160.08 and a twelve month high of $441.43.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.47 billion. The business's revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company 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, analysts predict that MasTec, Inc. will post 8.51 earnings per share for the current year.

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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