MasTec, Inc. $MTZ Shares Sold by Renasant Bank

Renasant Bank cut its stake in MasTec, Inc. (NYSE:MTZ) by 15.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,567 shares of the construction company’s stock after selling 284 shares during the period. Renasant Bank’s holdings in MasTec were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTZ. Brighton Jones LLC acquired a new stake in shares of MasTec in the 4th quarter worth approximately $227,000. Envestnet Asset Management Inc. boosted its position in MasTec by 32.2% during the first quarter. Envestnet Asset Management Inc. now owns 45,736 shares of the construction company’s stock worth $5,338,000 after purchasing an additional 11,143 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in MasTec by 71.7% during the first quarter. Stratos Wealth Partners LTD. now owns 2,626 shares of the construction company’s stock worth $307,000 after purchasing an additional 1,097 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in MasTec by 16.3% in the first quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company’s stock valued at $87,000 after purchasing an additional 104 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in MasTec by 24.1% in the first quarter. Cerity Partners LLC now owns 30,088 shares of the construction company’s stock valued at $3,512,000 after purchasing an additional 5,835 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTZ has been the topic of a number of research reports. 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 research note on Thursday, August 7th. Jefferies Financial Group upped their price target on shares of MasTec from $218.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Citigroup raised their price objective on shares of MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Stifel Nicolaus increased their target price on MasTec from $198.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MasTec in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.44.

MasTec Trading Down 1.7%

Shares of MTZ stock opened at $197.53 on Wednesday. The firm’s 50-day simple moving average is $201.96 and its 200-day simple moving average is $179.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $224.03. The firm has a market cap of $15.59 billion, a P/E ratio of 58.44 and a beta of 1.88.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $3.90 billion. During the same period in the previous year, the company earned $1.63 EPS. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. As a group, equities analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the 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 completion of the sale, the director owned 35,277 shares of the company’s stock, valued at $6,716,388.03. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were 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 of the company’s stock, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,929 shares of company stock valued at $3,394,013 over the last ninety days. Corporate insiders own 21.30% of the company’s stock.

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.