Sheets Smith Wealth Management Trims Position in MasTec, Inc. $MTZ

Sheets Smith Wealth Management reduced its holdings in MasTec, Inc. (NYSE:MTZ) by 6.8% during the 1st quarter, Holdings Channel reports. The fund owned 18,406 shares of the construction company’s stock after selling 1,342 shares during the period. Sheets Smith Wealth Management’s holdings in MasTec were worth $5,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in MasTec during the fourth quarter valued at $30,000. CIBC Private Wealth Group LLC raised its stake in shares of MasTec by 372.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company’s stock valued at $51,000 after buying an additional 186 shares during the last quarter. Covestor Ltd lifted its holdings in shares of MasTec by 102.6% in the 4th quarter. Covestor Ltd now owns 314 shares of the construction company’s stock valued at $68,000 after buying an additional 159 shares during the period. CI Investments Inc. lifted its holdings in shares of MasTec by 39.9% in the 3rd quarter. CI Investments Inc. now owns 319 shares of the construction company’s stock valued at $68,000 after buying an additional 91 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of MasTec by 671.4% in the fourth quarter. Harbour Investments Inc. now owns 324 shares of the construction company’s stock worth $70,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MTZ shares. Wolfe Research reaffirmed an “outperform” rating and set a $326.00 target price on shares of MasTec in a report on Monday, March 2nd. DA Davidson upped their price objective on MasTec from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Roth Mkm reaffirmed a “buy” rating and set a $450.00 price objective on shares of MasTec in a research note on Monday, May 4th. KeyCorp lifted their target price on shares of MasTec from $460.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of MasTec from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, MasTec has an average rating of “Buy” and a consensus target price of $459.28.

MasTec Price Performance

Shares of MasTec stock opened at $380.34 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a twelve month low of $160.08 and a twelve month high of $441.43. The business has a 50-day moving average price of $381.86 and a 200 day moving average price of $303.68. The firm has a market cap of $30.05 billion, a PE ratio of 66.61 and a beta of 1.77.

MasTec (NYSE:MTZ) last issued 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. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business posted $0.51 earnings per share. MasTec’s revenue for the quarter was up 34.5% on a year-over-year basis. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. Sell-side analysts predict that MasTec, Inc. will post 8.51 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director Javier Alberto Palomarez sold 950 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $325.43, for a total value of $309,158.50. Following the completion of the sale, the director owned 10,592 shares of the company’s stock, valued at approximately $3,446,954.56. The trade was a 8.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on 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 transaction, the director owned 30,646 shares of the company’s stock, valued at $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,450 shares of company stock valued at $3,972,764 in the last three months. 21.40% of the stock is currently owned by company insiders.

MasTec Company Profile

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.