MasTec, Inc. $MTZ Shares Sold by Legacy Advisors LLC

Legacy Advisors LLC lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 85.9% during the second quarter, Holdings Channel reports. The fund owned 109,695 shares of the construction company’s stock after selling 666,992 shares during the quarter. MasTec comprises 17.0% of Legacy Advisors LLC’s portfolio, making the stock its biggest holding. Legacy Advisors LLC’s holdings in MasTec were worth $18,695,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in MasTec by 43.1% in the 2nd quarter. Allworth Financial LP now owns 886 shares of the construction company’s stock valued at $151,000 after purchasing an additional 267 shares in the last quarter. ProShare Advisors LLC raised its position in shares of MasTec by 3.7% in the second quarter. ProShare Advisors LLC now owns 2,717 shares of the construction company’s stock valued at $463,000 after buying an additional 97 shares during the last quarter. Profund Advisors LLC purchased a new position in shares of MasTec during the second quarter valued at approximately $242,000. Lisanti Capital Growth LLC boosted its position in MasTec by 21.8% during the second quarter. Lisanti Capital Growth LLC now owns 21,775 shares of the construction company’s stock worth $3,711,000 after acquiring an additional 3,890 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in MasTec in the 2nd quarter worth approximately $1,930,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MTZ. Weiss Ratings reiterated a “hold (c)” rating on shares of MasTec in a report on Wednesday, October 8th. Roth Capital upped their target price on MasTec from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Guggenheim reiterated a “neutral” rating and set a $215.00 target price on shares of MasTec in a research report on Wednesday, October 15th. Stifel Nicolaus raised their price target on MasTec from $198.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, Robert W. Baird upped their price objective on shares of MasTec from $238.00 to $249.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, MasTec currently has an average rating of “Moderate Buy” and an average price target of $229.44.

MasTec Stock Up 0.3%

MTZ opened at $201.13 on Tuesday. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $224.03. The firm has a 50 day moving average price of $201.60 and a 200 day moving average price of $178.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.19 and a current ratio of 1.22. The company has a market cap of $15.87 billion, a PE ratio of 59.51 and a beta of 1.88.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.17. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. MasTec’s revenue for the quarter was up 22.0% on a year-over-year basis. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. Sell-side analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 directly owned 184,249 shares in the company, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $210.39, for a total value of $420,780.00. Following the completion of the transaction, the director directly owned 33,277 shares in the company, valued at $7,001,148.03. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 16,929 shares of company stock valued at $3,394,013. Company insiders own 21.30% of the company’s stock.

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.