Truist Financial Corp Buys Shares of 2,463 MasTec, Inc. $MTZ

Truist Financial Corp bought a new position in MasTec, Inc. (NYSE:MTZ) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,463 shares of the construction company’s stock, valued at approximately $420,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of MasTec by 228.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the construction company’s stock valued at $47,000 after acquiring an additional 192 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of MasTec in the first quarter worth approximately $35,000. Parallel Advisors LLC increased its position in shares of MasTec by 37.1% in the second quarter. Parallel Advisors LLC now owns 303 shares of the construction company’s stock worth $52,000 after purchasing an additional 82 shares during the last quarter. Rise Advisors LLC grew its stake in MasTec by 24.9% in the 2nd quarter. Rise Advisors LLC now owns 667 shares of the construction company’s stock worth $114,000 after buying an additional 133 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in MasTec by 21.8% in the 1st quarter. Fifth Third Bancorp now owns 704 shares of the construction company’s stock worth $82,000 after buying an additional 126 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTZ. UBS Group upped their target price on MasTec from $206.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Barclays restated an “overweight” rating and issued a $200.00 price objective (up from $145.00) on shares of MasTec in a report on Monday, July 21st. Guggenheim restated a “neutral” rating and issued a $215.00 price objective on shares of MasTec in a report on Wednesday. Truist Financial lifted their target price on shares of MasTec from $209.00 to $248.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Roth Capital lifted their target price on shares of MasTec from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.63.

MasTec Stock Down 0.4%

Shares of MasTec stock opened at $203.66 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.19. The company has a 50-day moving average of $192.78 and a 200 day moving average of $166.79. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 60.25 and a beta of 1.82. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $221.83.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.08. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.40 billion. MasTec had a return on equity of 12.71% and a net margin of 2.04%.The company’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. MasTec has set its Q3 2025 guidance at 2.280-2.280 EPS. FY 2025 guidance at 6.230-6.440 EPS. As a group, sell-side analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $200.44, for a total value of $2,004,400.00. Following the transaction, the chief operating officer owned 184,249 shares of the company’s stock, valued at approximately $36,930,869.56. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $210.39, for a total transaction of $420,780.00. Following the sale, the director directly owned 33,277 shares of the company’s stock, valued at $7,001,148.03. The trade was a 5.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,000 shares of company stock valued at $4,803,250. Company insiders own 21.30% of the company’s stock.

MasTec Profile

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.