MasTec, Inc. $MTZ Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 58,394 shares of the construction company’s stock, valued at approximately $12,474,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of MasTec at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Earned Wealth Advisors LLC raised its holdings in MasTec by 2.8% during the 1st quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company’s stock valued at $326,000 after buying an additional 28 shares during the period. Everhart Financial Group Inc. boosted its stake in MasTec by 5.4% during the second quarter. Everhart Financial Group Inc. now owns 874 shares of the construction company’s stock worth $364,000 after buying an additional 45 shares during the period. Armstrong Advisory Group Inc. boosted its stake in MasTec by 40.7% during the third quarter. Armstrong Advisory Group Inc. now owns 197 shares of the construction company’s stock worth $42,000 after buying an additional 57 shares during the period. Parallel Advisors LLC boosted its stake in MasTec by 21.0% during the first quarter. Parallel Advisors LLC now owns 340 shares of the construction company’s stock worth $109,000 after buying an additional 59 shares during the period. Finally, North Dakota State Investment Board increased its position in MasTec by 3.2% during the third quarter. North Dakota State Investment Board now owns 1,909 shares of the construction company’s stock valued at $408,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $198.24 on Wednesday. The firm has a market cap of $15.92 billion, a PE ratio of 23.54 and a beta of 1.91. The firm’s 50 day simple moving average is $213.02 and its 200-day simple moving average is $300.11. MasTec, Inc. has a one year low of $164.31 and a one year high of $441.43. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.36 and a current ratio of 1.39.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.94 billion. MasTec had a return on equity of 17.89% and a net margin of 2.80%. MasTec’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.48 earnings per share. As a group, equities analysts predict that MasTec, Inc. will post 8.83 EPS for the current year.

MasTec News Summary

Here are the key news stories impacting MasTec this week:

• Positive Sentiment: MasTec highlighted surging Power Delivery demand and a record $24.5 billion backlog on its Q3 earnings call, supporting prospects for future work. Its quarter also modestly beat EPS expectations and exceeded revenue forecasts, with revenue up 29.9% year over year. Zacks Q3 earnings call highlights
• Neutral Sentiment: Roth Capital and Truist kept Buy ratings, while Cantor Fitzgerald maintained an Overweight rating. The continued positive ratings signal that analysts still see potential despite reducing their estimates.
• Negative Sentiment: Analysts lowered price targets, citing a more cautious outlook: Roth cut its target to $380 from $500, Truist to $332 from $380, and Cantor Fitzgerald to $270 from $348. MasTec also flagged pipeline delays and margin pressures as factors shaping its 2027 outlook, tempering the positive backlog and demand picture. Truist price-target update Consensus target update

Analyst Upgrades and Downgrades

MTZ has been the topic of several recent analyst reports. Roth Capital reissued a “buy” rating and issued a $380.00 target price (down from $500.00) on shares of MasTec in a research note on Monday. Morgan Stanley set a $369.00 price target on shares of MasTec in a research note on Friday, July 31st. Cantor Fitzgerald cut their price target on shares of MasTec from $348.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday. Robert W. Baird cut their price target on shares of MasTec from $475.00 to $363.00 and set an “outperform” rating on the stock in a report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of MasTec from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Nineteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.80.

MasTec Company Profile

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.