HITE Hedge Asset Management LLC Invests $3.45 Million in MasTec, Inc. $MTZ

HITE Hedge Asset Management LLC bought a new position in shares of MasTec, Inc. (NYSE:MTZ) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 15,864 shares of the construction company’s stock, valued at approximately $3,448,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MasTec during the fourth quarter worth about $30,000. CIBC Private Wealth Group LLC increased its position in shares of MasTec by 372.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company’s stock worth $51,000 after acquiring an additional 186 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of MasTec by 105.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company’s stock worth $61,000 after acquiring an additional 182 shares during the last quarter. CI Investments Inc. increased its position in shares of MasTec by 39.9% during the third quarter. CI Investments Inc. now owns 319 shares of the construction company’s stock worth $68,000 after acquiring an additional 91 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of MasTec by 102.6% during the fourth quarter. Covestor Ltd now owns 314 shares of the construction company’s stock worth $68,000 after acquiring an additional 159 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTZ has been the topic of a number of analyst reports. Barclays lifted their target price on MasTec from $260.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Wall Street Zen raised MasTec from a “hold” rating to a “buy” rating in a report on Sunday, February 22nd. Robert W. Baird boosted their price objective on MasTec from $348.00 to $473.00 and gave the company an “outperform” rating in a report on Monday, May 4th. TD Cowen boosted their price objective on MasTec from $320.00 to $445.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Truist Financial boosted their price objective on MasTec from $425.00 to $518.00 and gave the company a “buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $459.28.

MasTec Stock Up 1.2%

Shares of MasTec stock opened at $362.63 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. The firm has a market cap of $28.66 billion, a P/E ratio of 63.51 and a beta of 1.77. MasTec, Inc. has a fifty-two week low of $159.77 and a fifty-two week high of $441.43. The business has a 50-day moving average price of $378.24 and a 200 day moving average price of $297.85.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.41. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.47 billion. MasTec had a return on equity of 17.15% and a net margin of 2.94%.MasTec’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. 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, sell-side analysts forecast that MasTec, Inc. will post 8.51 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Javier Alberto Palomarez sold 950 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $325.43, for a total transaction of $309,158.50. Following the completion of the transaction, the director directly owned 10,592 shares of the company’s stock, valued at approximately $3,446,954.56. This represents a 8.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction that occurred on 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 10,450 shares of company stock valued at $3,972,764. 21.40% of the stock is currently owned by insiders.

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.