Van ECK Associates Corp Buys Shares of 14,242 MasTec, Inc. $MTZ

Van ECK Associates Corp bought a new stake in MasTec, Inc. (NYSE:MTZ) during the second quarter, HoldingsChannel.com reports. The firm bought 14,242 shares of the construction company’s stock, valued at approximately $5,926,000.

Several other institutional investors also recently modified their holdings of MTZ. Nissay Asset Management Corp Japan acquired a new position in shares of MasTec in the second quarter valued at approximately $3,433,000. Navellier & Associates Inc. lifted its holdings in shares of MasTec by 15.4% in the second quarter. Navellier & Associates Inc. now owns 24,709 shares of the construction company’s stock valued at $10,280,000 after purchasing an additional 3,300 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of MasTec by 48.2% during the second quarter. Hsbc Holdings PLC now owns 86,514 shares of the construction company’s stock valued at $35,867,000 after purchasing an additional 28,144 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in MasTec in the second quarter worth $1,664,000. Finally, Kingsview Wealth Management LLC bought a new position in MasTec during the second quarter valued at about $472,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Down 1.1%

Shares of NYSE:MTZ opened at $235.02 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.40 and a quick ratio of 1.37. The company has a market cap of $18.87 billion, a PE ratio of 37.48 and a beta of 1.82. The stock’s 50-day moving average is $315.45 and its 200 day moving average is $337.03. MasTec, Inc. has a 1 year low of $171.05 and a 1 year high of $441.43.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.01). MasTec had a return on equity of 18.08% and a net margin of 3.07%.The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the business earned $1.49 EPS. The business’s revenue was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. Sell-side analysts anticipate that MasTec, Inc. will post 8.91 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on MTZ. Wall Street Zen downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Guggenheim boosted their price objective 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. Mizuho decreased their target price on MasTec from $502.00 to $457.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Cantor Fitzgerald increased their price target on shares of MasTec from $545.00 to $581.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Truist Financial reissued a “buy” rating and set a $428.00 price objective (down from $550.00) on shares of MasTec in a report on Monday, August 3rd. Nineteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $427.32.

About MasTec

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.