SummitTX Capital L.P. Sells 29,167 Shares of MasTec, Inc. $MTZ

Key Points

• SummitTX Capital cut its MasTec position by 52.4% in the first quarter, selling 29,167 shares and retaining 26,473 shares valued at approximately $8.5 million. Institutional investors collectively own 78.1% of MasTec.
• MasTec reported strong quarterly results, with earnings of $1.39 per share versus the $0.98 consensus estimate and revenue of $3.83 billion, up 34.5% year over year.
• Analysts remain bullish, with 19 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $466.89; however, company directors recently sold shares.

SummitTX Capital L.P. reduced its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 52.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,473 shares of the construction company's stock after selling 29,167 shares during the period. SummitTX Capital L.P.'s holdings in MasTec were worth $8,517,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ascentis Independent Advisors bought a new position in shares of MasTec in the 1st quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in MasTec during the fourth quarter worth approximately $30,000. GHP Investment Advisors Inc. bought a new stake in MasTec during the first quarter worth approximately $65,000. CIBC Private Wealth Group LLC raised its position in 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 purchasing an additional 186 shares during the period. Finally, Root Financial Partners LLC raised its position in MasTec by 25.4% during the first quarter. Root Financial Partners LLC now owns 311 shares of the construction company's stock valued at $100,000 after purchasing an additional 63 shares during the period. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Down 0.1%

Shares of NYSE:MTZ opened at $337.55 on Monday. MasTec, Inc. has a 1 year low of $160.08 and a 1 year high of $441.43. The business has a 50 day simple moving average of $373.59 and a two-hundred day simple moving average of $331.20. The firm has a market capitalization of $26.67 billion, a PE ratio of 59.12 and a beta of 1.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.32 and a quick ratio of 1.28.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company'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. On average, equities analysts predict that MasTec, Inc. will post 9.18 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Roth Capital reaffirmed a "buy" rating and issued a $450.00 price objective on shares of MasTec in a research note on Monday, May 4th. The Goldman Sachs Group boosted their target price on MasTec from $348.00 to $487.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Mizuho increased their price target on MasTec from $498.00 to $502.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Barclays raised their price target on MasTec from $260.00 to $340.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MasTec from $471.00 to $491.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Nineteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, MasTec has an average rating of "Moderate Buy" and a consensus target price of $466.89.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $417.00, for a total value of $1,251,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was 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 in the company, valued at $4,014,574.72. This represents a 37.54% decrease in their position. The SEC filing for this sale provides additional information. 21.40% of the stock is currently owned by company insiders.

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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