Sterling Capital Management LLC Sells 10,596 Shares of MasTec, Inc. $MTZ

Key Points

• Sterling Capital Management cut its MasTec stake by 20.3% in the first quarter, selling 10,596 shares and ending with 41,684 shares valued at about $13.4 million.
• MasTec reported strong quarterly results, with earnings of $1.39 per share and revenue of $3.83 billion, both above analyst expectations and up 34.5% year over year.
• Analyst sentiment remains bullish, with multiple firms raising price targets and the consensus rating at “Buy”; meanwhile, the stock was trading down 1.9% in Friday’s session.

Sterling Capital Management LLC reduced its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 20.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,684 shares of the construction company's stock after selling 10,596 shares during the period. Sterling Capital Management LLC owned 0.05% of MasTec worth $13,411,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Aigen Investment Management LP raised its stake in MasTec by 3.8% during the 4th quarter. Aigen Investment Management LP now owns 1,041 shares of the construction company's stock worth $226,000 after acquiring an additional 38 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of MasTec by 1.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,927 shares of the construction company's stock worth $636,000 after purchasing an additional 43 shares during the period. Motley Fool Asset Management LLC increased its stake in shares of MasTec by 3.7% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,311 shares of the construction company's stock worth $285,000 after purchasing an additional 47 shares in the last quarter. Williamson Legacy Group LLC increased its stake in shares of MasTec by 0.9% in the fourth quarter. Williamson Legacy Group LLC now owns 5,961 shares of the construction company's stock worth $1,296,000 after purchasing an additional 52 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in MasTec by 5.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 943 shares of the construction company's stock valued at $205,000 after acquiring an additional 52 shares during the period. 78.10% of the stock is currently owned by institutional investors.

MasTec Trading Down 1.9%

Shares of MasTec stock opened at $396.09 on Friday. MasTec, Inc. has a twelve month low of $160.08 and a twelve month high of $441.43. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $385.30 and a 200-day moving average price of $310.02. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 69.37 and a beta of 1.77.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, April 30th. The construction company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm's revenue for the quarter was up 34.5% on a year-over-year basis. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. Equities research analysts anticipate that MasTec, Inc. will post 8.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald upped their price objective on MasTec from $347.00 to $545.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Stifel Nicolaus set a $455.00 target price on MasTec in a research note on Monday, May 4th. B. Riley Financial reissued a "buy" rating on shares of MasTec in a report on Monday, May 4th. CICC Research initiated coverage on MasTec in a research note on Thursday, May 21st. They issued an "outperform" rating and a $480.00 price target for the company. Finally, Robert W. Baird increased their price objective on shares of MasTec from $348.00 to $473.00 and gave the company an "outperform" rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $459.28.

Insider Buying and Selling

In other news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the completion of the transaction, the director directly owned 30,646 shares in the company, valued at approximately $12,779,382. This represents a 8.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the completion of the transaction, the director directly owned 10,816 shares of the company's stock, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 21.40% of the stock is currently owned by corporate insiders.

About MasTec

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.