CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 4,200 Shares of MasTec, Inc. $MTZ

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,600 shares of the construction company’s stock after selling 4,200 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in MasTec were worth $16,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in MasTec in the second quarter valued at $3,178,069,000. Hill City Capital LP purchased a new position in shares of MasTec during the second quarter worth about $896,609,300. Bank of America Corp DE acquired a new stake in shares of MasTec during the second quarter worth about $555,825,000. First Trust Advisors LP increased its position in shares of MasTec by 7.6% during the first quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company’s stock worth $454,163,000 after purchasing an additional 100,151 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of MasTec during the second quarter worth about $280,544,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 1.0%

Shares of NYSE:MTZ opened at $172.70 on Tuesday. MasTec, Inc. has a fifty-two week low of $164.31 and a fifty-two week high of $441.43. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $223.75 and its 200-day simple moving average is $301.30. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 27.54 and a beta of 1.84.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share (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 analysts’ expectations of $4.30 billion. MasTec had a return on equity of 18.08% and a net margin of 3.07%. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 earnings per share. 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 research analysts predict that MasTec, Inc. will post 8.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup reduced their target price on MasTec from $408.00 to $308.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. reduced their price objective on MasTec from $369.00 to $303.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Wall Street Zen cut MasTec from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Truist Financial decreased their price objective on MasTec from $428.00 to $380.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $274.00 price objective on shares of MasTec in a research report on Thursday. Nineteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $365.10.

About MasTec

MasTec, Inc is an infrastructure construction and engineering company that provides services to the communications, energy, utility, and industrial sectors. The company designs, builds, installs, maintains, and upgrades infrastructure for wireless and wireline communications networks, including cellular, broadband, fiber-optic, and other connectivity systems.

MasTec also performs construction and maintenance work for electric transmission and distribution systems, renewable energy projects, and other power infrastructure.