Prudential PLC Buys Shares of 13,749 MasTec, Inc. $MTZ

Key Points

• Prudential PLC has acquired 13,749 shares of MasTec, Inc., valued at approximately $1,605,000, reflecting growing interest from institutional investors in the construction firm.
• Several large investors, including Colonial Trust Co SC and Rothschild Investment LLC, significantly increased their stakes in MasTec, indicating a strong confidence in the company's future.
• MasTec's stock has received multiple upgrades from analysts, with a consensus price target of $195.12, showing optimism about its performance amid a positive earnings report.

Prudential PLC purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,749 shares of the construction company's stock, valued at approximately $1,605,000.

Several other hedge funds have also modified their holdings of the stock. LPL Financial LLC lifted its holdings in shares of MasTec by 535.1% in the first quarter. LPL Financial LLC now owns 130,314 shares of the construction company's stock valued at $15,209,000 after purchasing an additional 109,794 shares in the last quarter. KBC Group NV boosted its position in MasTec by 10.6% during the 1st quarter. KBC Group NV now owns 2,773 shares of the construction company's stock worth $324,000 after acquiring an additional 266 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of MasTec by 37.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company's stock worth $1,915,000 after acquiring an additional 4,469 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of MasTec by 43.6% in the first quarter. GAMMA Investing LLC now owns 915 shares of the construction company's stock valued at $107,000 after purchasing an additional 278 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of MasTec by 33.5% in the first quarter. Sequoia Financial Advisors LLC now owns 2,253 shares of the construction company's stock worth $263,000 after purchasing an additional 565 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTZ. Baird R W upgraded shares of MasTec from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Wall Street Zen upgraded MasTec from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their price target on MasTec from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. TD Cowen upped their price objective on MasTec from $175.00 to $195.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, Stifel Nicolaus lifted their target price on MasTec from $181.00 to $198.00 and gave the stock a "buy" rating in a report 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $195.12.

MasTec Trading Down 1.4%

Shares of MasTec stock traded down $2.4350 on Tuesday, hitting $176.0150. The stock had a trading volume of 133,067 shares, compared to its average volume of 1,040,141. The stock has a 50 day moving average of $173.95 and a 200 day moving average of $147.32. The firm has a market capitalization of $13.89 billion, a P/E ratio of 52.04 and a beta of 1.83. MasTec, Inc. has a twelve month low of $96.01 and a twelve 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 released its quarterly earnings results 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 firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company's revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter 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. Sell-side analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the chief operating officer directly owned 194,249 shares of the company's stock, valued at $33,993,575. The trade was a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 101,349 shares in the company, valued at $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

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.