State of Wyoming Reduces Stock Holdings in MasTec, Inc. $MTZ

Key Points

• The State of Wyoming reduced its stake in MasTec, Inc. by 21.4% to own 15,575 shares, valued at approximately $1.8 million, according to a recent SEC filing.
• Recent analyst ratings have been positive, with several firms increasing their target prices for MasTec shares, including JPMorgan raising it to $214 and Barclays to $200.
• MasTec reported a 19.7% year-over-year revenue increase to $3.55 billion for the recent quarter, along with an EPS of $1.49, surpassing estimates.

State of Wyoming lowered its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,575 shares of the construction company's stock after selling 4,240 shares during the quarter. State of Wyoming's holdings in MasTec were worth $1,818,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MTZ. Brighton Jones LLC bought a new position in shares of MasTec during the 4th quarter worth approximately $227,000. Mariner LLC raised its stake in shares of MasTec by 20.9% during the 4th quarter. Mariner LLC now owns 2,639 shares of the construction company's stock worth $359,000 after acquiring an additional 457 shares in the last quarter. Stifel Financial Corp raised its stake in shares of MasTec by 16.7% during the 4th quarter. Stifel Financial Corp now owns 11,788 shares of the construction company's stock worth $1,605,000 after acquiring an additional 1,683 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MasTec by 4.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,117 shares of the construction company's stock worth $6,279,000 after acquiring an additional 1,915 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of MasTec by 5.0% during the 4th quarter. Voya Investment Management LLC now owns 34,895 shares of the construction company's stock worth $4,751,000 after acquiring an additional 1,669 shares in the last quarter. Institutional investors own 78.10% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on MTZ shares. Guggenheim reissued a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Robert W. Baird raised shares of MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a research report on Monday, August 4th. TD Cowen boosted their target price on shares of MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. KeyCorp boosted their target price on shares of MasTec from $196.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Piper Sandler boosted their target price on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $195.12.

MasTec Price Performance

NYSE:MTZ traded down $1.86 during trading hours on Tuesday, reaching $179.83. 562,800 shares of the company were exchanged, compared to its average volume of 1,034,082. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average is $177.04 and its 200-day moving average is $149.99. The firm has a market cap of $14.19 billion, a PE ratio of 53.20 and a beta of 1.81. MasTec, Inc. has a twelve month low of $96.01 and a twelve month high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. The company had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm's revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $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. On average, sell-side analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In other news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total value of $1,806,900.00. Following the completion of the sale, the executive vice president directly owned 101,349 shares in the company, valued at $18,312,750.81. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chief operating officer owned 194,249 shares of the company's stock, valued at $33,993,575. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

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.