Russell Investments Group Ltd. Buys 133,420 Shares of MasTec, Inc. $MTZ

Key Points

• Russell Investments Group Ltd. boosted its MasTec stake by 125.9% in Q3, buying 133,420 shares to hold 239,380 shares worth about $50.94 million (roughly 0.30% of the company).
• Several analysts have raised ratings and targets—TD Cowen and Truist lifted targets to $320 and $356 respectively—and MasTec's consensus rating is a “Moderate Buy” with an average price target of $283.79.
• Insider Director Ernst N. Csiszar sold 6,500 shares at an average price of $300.40 for $1.95 million, reducing his direct holding to 17,235 shares (a reported 27.39% decrease).

Russell Investments Group Ltd. increased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 125.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,380 shares of the construction company's stock after purchasing an additional 133,420 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.30% of MasTec worth $50,943,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,007,192 shares of the construction company's stock worth $1,278,391,000 after acquiring an additional 34,899 shares during the period. Invesco Ltd. raised its position in shares of MasTec by 6.1% during the second quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company's stock worth $300,817,000 after purchasing an additional 102,072 shares during the period. Hood River Capital Management LLC lifted its stake in MasTec by 8.9% in the second quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company's stock valued at $288,479,000 after buying an additional 138,269 shares in the last quarter. AQR Capital Management LLC lifted its position in MasTec by 11.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company's stock valued at $181,961,000 after acquiring an additional 108,504 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of MasTec by 52.1% in the third quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company's stock valued at $217,529,000 after purchasing an additional 350,228 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 6,500 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $300.40, for a total transaction of $1,952,600.00. Following the sale, the director directly owned 17,235 shares in the company, valued at $5,177,394. This represents a 27.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 21.30% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen upped their target price on MasTec from $225.00 to $320.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of MasTec in a research report on Monday, December 29th. Barclays upped their price target on shares of MasTec from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 23rd. Wall Street Zen upgraded MasTec from a "hold" rating to a "buy" rating in a research note on Sunday, February 22nd. Finally, Truist Financial boosted their target price on shares of MasTec from $270.00 to $356.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and a consensus price target of $283.79.

MasTec Price Performance

Shares of NYSE:MTZ opened at $299.97 on Wednesday. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 59.17 and a beta of 1.89. The stock's 50 day moving average is $256.75 and its 200-day moving average is $222.87. MasTec, Inc. has a twelve month low of $99.70 and a twelve month high of $310.36. The company has a quick ratio of 1.29, a current ratio of 1.32 and a debt-to-equity ratio of 0.65.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The construction company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.13. MasTec had a return on equity of 15.62% and a net margin of 2.79%.The business had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same period last year, the business earned $1.44 EPS. The business's revenue was up 15.8% on a year-over-year basis. MasTec has set its Q1 2026 guidance at 1.000-1.000 EPS and its FY 2026 guidance at 8.400-8.400 EPS. Sell-side analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

MasTec Company 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.

Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.