Chase Investment Counsel Corp Acquires New Position in MasTec, Inc. $MTZ

Chase Investment Counsel Corp acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 26,950 shares of the construction company’s stock, valued at approximately $11,212,000. MasTec makes up approximately 2.4% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 18th biggest position.

Several other hedge funds also recently made changes to their positions in MTZ. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of MasTec in the 4th quarter valued at approximately $30,000. Ascentis Independent Advisors bought a new position in MasTec during the first quarter worth $30,000. CIBC Private Wealth Group LLC boosted its holdings in MasTec by 372.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company’s stock worth $51,000 after purchasing an additional 186 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in MasTec by 105.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company’s stock worth $61,000 after purchasing an additional 182 shares during the period. Finally, GHP Investment Advisors Inc. bought a new stake in MasTec during the first quarter valued at $65,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Activity at MasTec

In other news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the sale, the director owned 10,816 shares of the company’s stock, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 21.40% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $297.79 on Monday. MasTec, Inc. has a 1 year low of $167.66 and a 1 year high of $441.43. The company has a market cap of $23.92 billion, a price-to-earnings ratio of 47.50 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. The firm has a fifty day moving average of $345.18 and a 200-day moving average of $336.43.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.01). The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.30 billion. MasTec had a return on equity of 18.08% and a net margin of 3.07%.The firm’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 EPS. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, equities analysts anticipate that MasTec, Inc. will post 8.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of MasTec from $508.00 to $409.00 and set a “buy” rating on the stock in a report on Wednesday. Cantor Fitzgerald lifted their price target on shares of MasTec from $545.00 to $581.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Truist Financial reaffirmed a “buy” rating and set a $428.00 price objective (down from $550.00) on shares of MasTec in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $493.00 price objective on shares of MasTec in a research note on Monday, May 4th. Finally, KeyCorp cut their target price on shares of MasTec from $500.00 to $371.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, MasTec has a consensus rating of “Buy” and a consensus target price of $427.32.

MasTec Company 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.