Allspring Global Investments Holdings LLC Sells 18,672 Shares of MasTec, Inc. $MTZ

Allspring Global Investments Holdings LLC cut its holdings in MasTec, Inc. (NYSE:MTZ) by 36.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,203 shares of the construction company’s stock after selling 18,672 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MasTec were worth $11,083,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of MasTec by 178.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock worth $573,304,000 after buying an additional 1,690,896 shares during the last quarter. Peconic Partners LLC boosted its stake in shares of MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock worth $347,792,000 after acquiring an additional 850,000 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of MasTec by 28.3% during the 4th quarter. First Trust Advisors LP now owns 1,311,433 shares of the construction company’s stock valued at $285,066,000 after acquiring an additional 289,258 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MasTec by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,220,703 shares of the construction company’s stock valued at $265,395,000 after acquiring an additional 94,344 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of MasTec by 11.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock valued at $181,961,000 after acquiring an additional 108,504 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated 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 directly owned 30,646 shares in the company, valued at $12,779,382. The trade was a 8.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ernst N. Csiszar sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the transaction, the director directly owned 10,816 shares of the company’s stock, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 21.40% of the company’s stock.

MasTec Stock Performance

Shares of NYSE MTZ opened at $357.14 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $376.65 and its two-hundred day moving average is $329.53. The company has a market cap of $28.22 billion, a P/E ratio of 62.55 and a beta of 1.77. MasTec, Inc. has a 12 month low of $160.08 and a 12 month high of $441.43.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 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 during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up 34.5% compared to the same quarter last year. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. On average, equities analysts expect that MasTec, Inc. will post 9.18 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on MTZ. Jefferies Financial Group restated a “buy” rating and issued a $493.00 target price on shares of MasTec in a report on Monday, May 4th. Stifel Nicolaus set a $455.00 price target on MasTec in a report on Monday, May 4th. Guggenheim lifted their price target on shares of MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial boosted their price objective on shares of MasTec from $518.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of MasTec in a report on Monday, May 4th. Nineteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $466.89.

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.