VIRGINIA RETIREMENT SYSTEMS ET Al Takes $3.78 Million Position in MasTec, Inc. $MTZ

Key Points

• Virginia Retirement Systems acquired a $3.78 million stake in MasTec, purchasing approximately 22,200 shares during the second quarter.
• MasTec reported earnings per share of $1.49 for the last quarter, surpassing analysts' expectations and marking a year-over-year revenue increase of 19.7%.
• Insider executives, including EVP Cardenas Alberto De and COO Robert E. Apple, have recently sold shares, collectively offloading 25,000 shares valued at approximately $4.8 million over the last quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,200 shares of the construction company's stock, valued at approximately $3,784,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hill City Capital LP increased its position in shares of MasTec by 0.7% during the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company's stock valued at $250,343,000 after purchasing an additional 15,000 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in MasTec by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company's stock worth $142,331,000 after acquiring an additional 39,622 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in MasTec by 163.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company's stock worth $121,843,000 after acquiring an additional 648,184 shares in the last quarter. AQR Capital Management LLC increased its holdings in MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company's stock worth $106,234,000 after acquiring an additional 184,277 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in MasTec by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock worth $65,440,000 after acquiring an additional 4,024 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Up 1.7%

NYSE MTZ opened at $205.31 on Tuesday. The company has a market capitalization of $16.20 billion, a P/E ratio of 60.74 and a beta of 1.82. The stock has a 50 day moving average price of $193.72 and a 200-day moving average price of $168.76. MasTec, Inc. has a one year low of $99.70 and a one year high of $221.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) 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 the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.MasTec's revenue was up 19.7% on a year-over-year basis. During the same period last year, the company earned $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. As a group, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total value of $1,806,900.00. Following the sale, the executive vice president owned 101,349 shares in the company, valued at $18,312,750.81. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the completion of the sale, the chief operating officer owned 184,249 shares in the company, valued at approximately $36,930,869.56. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $4,803,250 over the last quarter. Company insiders own 21.30% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on MTZ. Citigroup increased their target price on shares of MasTec from $219.00 to $248.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Guggenheim reissued a "neutral" rating and issued a $215.00 target price on shares of MasTec in a report on Wednesday, October 15th. The Goldman Sachs Group increased their price objective on shares of MasTec from $195.00 to $227.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of MasTec from a "strong-buy" rating to a "buy" rating in a report on Sunday. Finally, Mizuho initiated coverage on shares of MasTec in a report on Thursday, September 4th. They set an "outperform" rating and a $215.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.37.

MasTec Company 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.

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