Saudi Central Bank Takes Position in MasTec, Inc. $MTZ

Key Points

• Saudi Central Bank acquired 4,276 MasTec shares in the second quarter, valued at approximately $1.78 million. Institutional investors collectively own 78.1% of the company.
• MasTec’s latest quarterly revenue rose 23.4% year over year to $4.37 billion, exceeding estimates, while EPS of $2.22 narrowly missed consensus by one cent.
• Analysts maintain a generally positive outlook, with 20 Buy ratings and two Holds, although several firms recently lowered their price targets; the consensus target is $422 and the rating is “Moderate Buy.”

Saudi Central Bank bought a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,276 shares of the construction company's stock, valued at approximately $1,779,000.

Other hedge funds have also bought and sold shares of the company. Ascentis Independent Advisors purchased a new position in shares of MasTec during the first quarter valued at about $30,000. Bell Investment Advisors Inc bought a new stake in MasTec in the 2nd quarter worth approximately $32,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MasTec during the 2nd quarter worth approximately $32,000. CIBC Private Wealth Group LLC increased its position in MasTec by 372.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company's stock worth $51,000 after purchasing an additional 186 shares during the last quarter. Finally, Solstein Capital LLC purchased a new stake in MasTec during the second quarter valued at $58,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Price Performance

Shares of MTZ stock opened at $246.41 on Wednesday. MasTec, Inc. has a fifty-two week low of $173.90 and a fifty-two week high of $441.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of 39.30 and a beta of 1.82. The stock's 50-day simple moving average is $301.63 and its 200-day simple moving average is $336.19.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, July 30th. The construction company reported $2.22 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.01). MasTec had a return on equity of 18.08% and a net margin of 3.07%.The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business earned $1.49 earnings per share. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, equities analysts forecast that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zacks Research cut shares of MasTec from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 26th. The Goldman Sachs Group dropped their price objective on shares of MasTec from $508.00 to $409.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Weiss Ratings lowered shares of MasTec from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 17th. TD Cowen reduced their price objective on shares of MasTec from $470.00 to $420.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their target price on MasTec from $471.00 to $491.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $422.00.

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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