Swedbank AB Acquires 7,000 Shares of MasTec, Inc. $MTZ

Key Points

• Swedbank AB increased its stake in MasTec, Inc. by 26% during the second quarter, acquiring an additional 7,000 shares to bring its total holdings to 33,900, valued at approximately $5.78 million.
• MasTec's earnings beat analysts' expectations with $1.49 EPS for the latest quarter, a significant increase year-over-year, and its revenue climbed 19.7% to $3.55 billion.
• Recent analyst ratings have turned positive, with Wall Street Zen upgrading MasTec to a "strong-buy" and several firms raising their price targets, reflecting strong investor interest in the stock.

Swedbank AB grew its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 26.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 33,900 shares of the construction company's stock after buying an additional 7,000 shares during the quarter. Swedbank AB's holdings in MasTec were worth $5,778,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment LLC boosted its stake in shares of MasTec by 2,023.1% in the 1st quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock valued at $32,000 after buying an additional 263 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in MasTec during the first quarter worth approximately $35,000. Parallel Advisors LLC lifted its stake in MasTec by 37.1% during the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company's stock worth $52,000 after purchasing an additional 82 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in MasTec by 147.1% during the first quarter. Harbor Investment Advisory LLC now owns 336 shares of the construction company's stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in MasTec during the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insider Activity

In other news, EVP Cardenas Alberto De sold 10,000 shares of MasTec stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the transaction, the executive vice president directly owned 101,349 shares in the company, valued at approximately $18,312,750.81. This trade represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $190.39, for a total value of $571,170.00. Following the transaction, the director owned 35,277 shares in the company, valued at approximately $6,716,388.03. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,000 shares of company stock worth $6,132,470. 21.30% of the stock is owned by company insiders.

MasTec Stock Performance

NYSE:MTZ traded up $6.22 during trading hours on Monday, reaching $207.18. 857,226 shares of the stock were exchanged, compared to its average volume of 903,325. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $182.49 and a 200-day simple moving average of $156.31. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $207.58. The stock has a market capitalization of $16.35 billion, a P/E ratio of 42.31 and a beta of 1.81.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.08. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The business's revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, sell-side analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MTZ shares. Mizuho started coverage on MasTec in a research note on Thursday, September 4th. They set an "outperform" rating and a $215.00 target price for the company. Robert W. Baird upgraded MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 target price for the company in a research note on Monday, August 4th. TD Cowen lifted their price target on MasTec from $175.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Wolfe Research raised MasTec from a "peer perform" rating to an "outperform" rating and set a $227.00 price objective for the company in a report on Wednesday, September 17th. Finally, Truist Financial set a $209.00 price target on shares of MasTec in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Strong Buy rating and seventeen have assigned a Buy rating to the stock. According to data from MarketBeat, MasTec has a consensus rating of "Buy" and a consensus target price of $197.84.

MasTec Profile

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.