Bank of New York Mellon Corp Boosts Stake in MasTec, Inc. $MTZ

Bank of New York Mellon Corp lifted its position in shares of MasTec, Inc. (NYSE:MTZ) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 636,359 shares of the construction company’s stock after acquiring an additional 53,962 shares during the quarter. Bank of New York Mellon Corp’s holdings in MasTec were worth $138,325,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of MasTec by 9,550.8% during the 3rd quarter. Victory Capital Management Inc. now owns 946,555 shares of the construction company’s stock worth $201,295,000 after purchasing an additional 936,747 shares during the last quarter. 140 Summer Partners LP acquired a new position in shares of MasTec during the 3rd quarter worth about $81,514,000. First Trust Advisors LP raised its holdings in MasTec by 52.1% in the 3rd quarter. First Trust Advisors LP now owns 1,022,175 shares of the construction company’s stock valued at $217,529,000 after acquiring an additional 350,228 shares during the last quarter. Merewether Investment Management LP raised its holdings in MasTec by 59.8% in the 3rd quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company’s stock valued at $184,557,000 after acquiring an additional 324,500 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in MasTec by 71.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,886 shares of the construction company’s stock valued at $155,965,000 after acquiring an additional 304,358 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 2.9%

Shares of NYSE MTZ opened at $363.70 on Friday. The company has a 50 day simple moving average of $374.48 and a 200-day simple moving average of $292.25. The company has a market capitalization of $28.74 billion, a P/E ratio of 63.70 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, Inc. has a 1 year low of $153.82 and a 1 year high of $441.43.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.41. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.47 billion. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The business’s revenue was up 34.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. 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 research analysts predict that MasTec, Inc. will post 8.51 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Javier Alberto Palomarez sold 950 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $325.43, for a total transaction of $309,158.50. Following the sale, the director owned 10,592 shares of the company’s stock, valued at approximately $3,446,954.56. This represents a 8.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated 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 sale, the director directly owned 30,646 shares in the company, valued at $12,779,382. This represents a 8.92% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,450 shares of company stock valued at $3,972,764. Company insiders own 21.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MTZ. Wall Street Zen upgraded shares of MasTec from a “hold” rating to a “buy” rating in a report on Sunday, February 22nd. 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. Stifel Nicolaus set a $455.00 price objective on shares of MasTec in a report on Monday, May 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $493.00 price objective on shares of MasTec in a report on Monday, May 4th. Finally, UBS Group raised their price target on shares of MasTec from $420.00 to $453.00 and gave the stock a “buy” rating in a report on Friday, May 1st. 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 data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $459.28.

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.