PDT Partners LLC Invests $10.62 Million in MasTec, Inc. $MTZ

PDT Partners LLC bought a new position in MasTec, Inc. (NYSE:MTZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,533 shares of the construction company’s stock, valued at approximately $10,623,000.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of MasTec in the second quarter worth about $3,178,069,000. Hill City Capital LP purchased a new position in shares of MasTec in the second quarter worth approximately $896,609,300,000. Victory Capital Management Inc. raised its holdings in shares of MasTec by 178.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after acquiring an additional 1,690,896 shares during the period. Peconic Partners LLC raised its holdings in shares of MasTec by 113.3% during the fourth quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock valued at $347,792,000 after acquiring an additional 850,000 shares during the period. Finally, Coatue Management LLC purchased a new stake in shares of MasTec in the 4th quarter valued at approximately $147,357,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of MasTec from $471.00 to $491.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Guggenheim boosted their target price on shares of MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. UBS Group reduced their target price on MasTec from $453.00 to $410.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $493.00 target price on shares of MasTec in a research report on Monday, May 4th. Finally, Morgan Stanley set a $369.00 price target on MasTec in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, MasTec has a consensus rating of “Buy” and a consensus price target of $427.32.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value 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 document filed with the SEC, which is available through the SEC website. 21.40% of the stock is owned by company insiders.

MasTec Trading Down 3.4%

Shares of NYSE:MTZ opened at $246.66 on Wednesday. The firm has a fifty day moving average of $332.81 and a two-hundred day moving average of $337.74. The firm has a market capitalization of $19.81 billion, a P/E ratio of 39.34 and a beta of 1.81. MasTec, Inc. has a 12-month low of $171.05 and a 12-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 posted its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $1.49 earnings per share. The company’s revenue was up 23.4% on a year-over-year basis. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. On average, equities analysts expect that MasTec, Inc. will post 8.91 EPS for the current fiscal year.

MasTec 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.