Cibc World Market Inc. Buys New Holdings in MasTec, Inc. $MTZ

Cibc World Market Inc. purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 2,519 shares of the construction company’s stock, valued at approximately $1,048,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of MasTec in the second quarter worth approximately $3,178,069,000. Victory Capital Management Inc. raised its holdings in MasTec by 178.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after buying an additional 1,690,896 shares during the last quarter. Peconic Partners LLC raised its holdings in MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock valued at $347,792,000 after buying an additional 850,000 shares during the last quarter. First Trust Advisors LP boosted its position in MasTec by 7.6% during the 1st quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company’s stock valued at $454,163,000 after buying an additional 100,151 shares during the period. Finally, Bank of America Corp DE boosted its position in MasTec by 6.0% during the 1st quarter. Bank of America Corp DE now owns 1,330,066 shares of the construction company’s stock valued at $427,935,000 after buying an additional 75,100 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

NYSE:MTZ opened at $251.15 on Friday. The stock has a market cap of $20.17 billion, a P/E ratio of 40.06 and a beta of 1.81. The firm’s fifty day simple moving average is $327.72 and its 200 day simple moving average is $337.72. MasTec, Inc. has a twelve month low of $171.05 and a twelve month high of $441.43. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, research analysts predict that MasTec, Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 6,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the transaction, the director owned 10,816 shares in the company, valued at $4,014,574.72. The trade was a 37.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of MasTec from $483.00 to $408.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. KeyCorp dropped their target price on shares of MasTec from $500.00 to $371.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Wall Street Zen cut MasTec from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. CICC Research began coverage on MasTec in a report on Thursday, May 21st. They set an “outperform” rating and a $480.00 price target on the stock. Finally, Weiss Ratings downgraded MasTec from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $427.32.

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.