Squarepoint Ops LLC Cuts Stock Position in MasTec, Inc. $MTZ

Key Points

• Squarepoint Ops LLC cut its MasTec position by 89.3% in the second quarter, selling 204,754 shares and retaining 24,496 shares worth approximately $10.2 million. Institutional investors collectively own 78.1% of MasTec.
• MasTec reported quarterly revenue of $4.37 billion, up 23.4% year over year, but earnings of $2.22 per share narrowly missed estimates. Shares opened at $232.19, well below their 52-week high of $441.43.
• Analysts remain broadly optimistic, with 19 Buy ratings and one Strong Buy, producing a consensus “Moderate Buy” rating and a $422 average price target, despite several recent target reductions.

Squarepoint Ops LLC trimmed its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 89.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,496 shares of the construction company's stock after selling 204,754 shares during the period. Squarepoint Ops LLC's holdings in MasTec were worth $10,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ascentis Independent Advisors purchased a new position in MasTec in the 1st quarter worth approximately $30,000. Bell Investment Advisors Inc purchased a new stake in MasTec during the 2nd quarter valued at approximately $32,000. Transamerica Financial Advisors LLC bought a new stake in shares of MasTec during the second quarter valued at approximately $32,000. CIBC Private Wealth Group LLC raised its position in shares of MasTec by 372.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company's stock valued at $51,000 after buying an additional 186 shares during the last quarter. Finally, Solstein Capital LLC purchased a new position in shares of MasTec in the second quarter worth $58,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Trading Down 3.5%

Shares of MTZ opened at $232.19 on Friday. The company's fifty day moving average is $295.78 and its 200 day moving average is $335.59. MasTec, Inc. has a fifty-two week low of $182.34 and a fifty-two week high of $441.43. The stock has a market capitalization of $18.65 billion, a PE ratio of 37.03 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial restated a "buy" rating and set a $428.00 target price (down from $550.00) on shares of MasTec in a research report on Monday, August 3rd. The Goldman Sachs Group reduced their price target on shares of MasTec from $508.00 to $409.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. TD Cowen dropped their price objective on shares of MasTec from $470.00 to $420.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Weiss Ratings downgraded shares of MasTec from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 17th. Finally, Guggenheim raised their price objective on MasTec from $480.00 to $518.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $422.00.

About MasTec

MasTec, Inc is an infrastructure construction and engineering company that serves communications, energy and utility customers. The company provides design, construction, installation, maintenance and upgrade services for infrastructure projects across the United States and, in certain activities, Canada.

MasTec's communications business supports wireless, wireline and broadband networks, including fiber-optic systems, 5G infrastructure and other communications facilities. Its energy and infrastructure operations serve electric utilities, renewable energy developers and other industrial customers through services such as power transmission and distribution construction, solar and wind project development, pipeline construction and other related infrastructure work.

MasTec traces its roots to the telecommunications and utility construction businesses and was formed as MasTec in 1994.

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