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

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

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of MasTec in the 2nd quarter valued at about $3,178,069,000. Hill City Capital LP acquired a new position in shares of MasTec during the second quarter worth $896,609,300. Bank of America Corp DE acquired a new position in shares of MasTec during the second quarter worth $555,825,000. Bank of New York Mellon Corp acquired a new position in shares of MasTec during the second quarter worth $280,544,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of MasTec during the 2nd quarter valued at $257,920,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research cut MasTec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Roth Capital reaffirmed a “buy” rating and set a $380.00 target price (down from $500.00) on shares of MasTec in a research report on Monday. Truist Financial reiterated a “buy” rating and issued a $332.00 price target (down from $380.00) on shares of MasTec in a research note on Monday. Mizuho set a $352.00 price target on MasTec in a report on Wednesday, October 7th. Finally, Wall Street Zen downgraded MasTec from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $354.80.

MasTec Trading Up 2.3%

Shares of MasTec stock opened at $198.24 on Wednesday. The company has a market cap of $15.92 billion, a P/E ratio of 23.54 and a beta of 1.91. MasTec, Inc. has a fifty-two week low of $164.31 and a fifty-two week 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. The firm has a 50-day simple moving average of $213.02 and a two-hundred day simple moving average of $300.11.

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

Key Headlines Impacting MasTec

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

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.