Penserra Capital Management LLC Purchases Shares of 1,410 MasTec, Inc. $MTZ

Penserra Capital Management LLC purchased a new position in MasTec, Inc. (NYSE:MTZ) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,410 shares of the construction company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Marco Investment Management LLC grew its holdings in shares of MasTec by 4.4% during the second quarter. Marco Investment Management LLC now owns 24,650 shares of the construction company’s stock valued at $4,201,000 after buying an additional 1,045 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in MasTec during the 2nd quarter valued at about $204,000. Sterling Capital Management LLC grew its stake in MasTec by 16.3% during the 2nd quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock valued at $13,472,000 after purchasing an additional 11,071 shares during the last quarter. Cetera Trust Company N.A increased its holdings in shares of MasTec by 6.1% in the second quarter. Cetera Trust Company N.A now owns 3,035 shares of the construction company’s stock valued at $517,000 after purchasing an additional 175 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of MasTec in the second quarter worth about $156,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Up 0.9%

MTZ stock opened at $199.44 on Thursday. MasTec, Inc. has a one year low of $99.70 and a one year high of $224.03. 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 firm’s fifty day moving average is $202.36 and its 200 day moving average is $179.28. The firm has a market cap of $15.74 billion, a PE ratio of 59.00 and a beta of 1.88.

MasTec (NYSE:MTZ) last posted its earnings results 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 business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the company posted $1.63 EPS. The company’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. On average, research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on MTZ shares. Citigroup upped their target price on MasTec from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. The Goldman Sachs Group upped 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. Truist Financial increased their price objective on shares of MasTec from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Barclays boosted their target price on shares of MasTec from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Zacks Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $229.44.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $190.39, for a total transaction of $571,170.00. Following the completion of the transaction, the director directly owned 35,277 shares of the company’s stock, valued at $6,716,388.03. This represents a 7.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the sale, the chief accounting officer directly owned 9,757 shares in the company, valued at $2,011,405.55. This represents a 16.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,929 shares of company stock worth $3,394,013. 21.30% of the stock is owned by corporate insiders.

About MasTec

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.