Praxis Investment Management Inc. Takes Position in MasTec, Inc. $MTZ

Key Points

• Praxis Investment Management Inc. has acquired a new stake in MasTec, Inc., purchasing 2,270 shares valued at approximately $387,000 during the second quarter.
• Insiders have recently sold a total of 25,000 shares of MasTec stock, representing a significant reduction in their ownership.
• The stock has seen recent analyst downgrades, with ratings from companies like Wall Street Zen and Zacks Research being reduced from "strong-buy" to "buy" and "hold" respectively.

Praxis Investment Management Inc. purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,270 shares of the construction company's stock, valued at approximately $387,000.

A number of other large investors have also made changes to their positions in MTZ. Smallwood Wealth Investment Management LLC purchased a new stake in shares of MasTec in the first quarter valued at approximately $35,000. Ameritas Advisory Services LLC purchased a new stake in shares of MasTec in the second quarter valued at approximately $35,000. Farther Finance Advisors LLC lifted its holdings in MasTec by 228.6% in the second quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company's stock valued at $47,000 after acquiring an additional 192 shares during the last quarter. Parallel Advisors LLC lifted its holdings in MasTec by 37.1% in the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company's stock valued at $52,000 after acquiring an additional 82 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in MasTec by 21.8% in the first quarter. Fifth Third Bancorp now owns 704 shares of the construction company's stock valued at $82,000 after acquiring an additional 126 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other MasTec news, Director C Robert Campbell sold 2,000 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the sale, the director directly owned 33,277 shares in the company, valued at $7,001,148.03. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the sale, the chief operating officer owned 184,249 shares in the company, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,000 shares of company stock worth $4,803,250. Corporate insiders own 21.30% of the company's stock.

MasTec Stock Down 0.7%

NYSE:MTZ opened at $202.01 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The stock's fifty day moving average is $193.19 and its two-hundred day moving average is $167.67. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $221.83. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 59.77 and a beta of 1.82.

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 the consensus estimate of $1.41 by $0.08. The business had revenue of $3.55 billion for 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 company's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the firm 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. Research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MTZ shares. Wall Street Zen cut MasTec from a "strong-buy" rating to a "buy" rating in a report on Sunday. Zacks Research cut MasTec from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Mizuho started coverage on MasTec in a report on Thursday, September 4th. They issued an "outperform" rating and a $215.00 price objective on the stock. The Goldman Sachs Group upped their price objective on MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, UBS Group upped their price objective on MasTec from $206.00 to $252.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $216.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.