Orbis Allan Gray Ltd Purchases 20,606 Shares of MasTec, Inc. $MTZ

Key Points

• Orbis Allan Gray Ltd increased its stake in MasTec, Inc. by 9.9%, owning approximately 0.29% of the company valued at $26.58 million after acquiring additional shares.
• MasTec reported a 19.7% increase in revenue year-over-year for the last quarter, with earnings per share of $1.49, surpassing analysts' expectations.
• Several analysts have upgraded MasTec's stock, with JPMorgan and Goldman Sachs increasing their price targets significantly, reflecting a generally positive outlook on the stock.

Orbis Allan Gray Ltd raised its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,759 shares of the construction company's stock after buying an additional 20,606 shares during the quarter. Orbis Allan Gray Ltd owned about 0.29% of MasTec worth $26,582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of MasTec during the 4th quarter worth approximately $227,000. Mariner LLC increased its holdings in shares of MasTec by 20.9% during the fourth quarter. Mariner LLC now owns 2,639 shares of the construction company's stock valued at $359,000 after purchasing an additional 457 shares during the period. Stifel Financial Corp increased its holdings in shares of MasTec by 16.7% during the fourth quarter. Stifel Financial Corp now owns 11,788 shares of the construction company's stock valued at $1,605,000 after purchasing an additional 1,683 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of MasTec by 4.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,117 shares of the construction company's stock valued at $6,279,000 after purchasing an additional 1,915 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of MasTec during the fourth quarter valued at $613,000. Institutional investors and hedge funds own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of several research analyst reports. Citigroup lowered their price target on MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Baird R W raised MasTec from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Jefferies Financial Group began coverage on MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 target price on the stock. The Goldman Sachs Group raised their target price on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus lifted their price objective on MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, MasTec presently has a consensus rating of "Buy" and a consensus price target of $195.12.

Insider Activity at MasTec

In related news, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chief operating officer owned 194,249 shares in the company, valued at $33,993,575. The trade was a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Cardenas Alberto De sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the sale, 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. Insiders own 21.30% of the company's stock.

MasTec Price Performance

Shares of NYSE MTZ traded down $0.67 during midday trading on Wednesday, reaching $179.33. 735,417 shares of the company traded hands, compared to its average volume of 1,031,748. The firm has a market cap of $14.15 billion, a PE ratio of 53.06 and a beta of 1.81. The stock's 50-day simple moving average is $177.24 and its 200-day simple moving average is $150.19. MasTec, Inc. has a 12 month low of $96.01 and a 12 month high of $194.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the business earned $0.96 EPS. MasTec's revenue was up 19.7% compared to the same quarter last year. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

MasTec Company 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.