Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in MasTec, Inc. $MTZ

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 42,247 shares of the construction company’s stock, valued at approximately $17,577,000.

Several other large investors also recently added to or reduced their stakes in MTZ. Bell Investment Advisors Inc purchased a new position in MasTec during the second quarter worth about $32,000. Ascentis Independent Advisors purchased a new stake in shares of MasTec in the 1st quarter valued at approximately $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of MasTec during the 1st quarter worth approximately $65,000. Harbor Investment Advisory LLC raised its position in shares of MasTec by 486.1% during the 2nd quarter. Harbor Investment Advisory LLC now owns 211 shares of the construction company’s stock valued at $88,000 after buying an additional 175 shares during the period. Finally, CIBC Private Wealth Group LLC lifted 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 valued at $51,000 after acquiring an additional 186 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTZ has been the subject of several analyst reports. Citigroup lowered their price objective on MasTec from $483.00 to $408.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Morgan Stanley set a $369.00 price target on MasTec in a report on Friday, July 31st. Wall Street Zen downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. B. Riley Financial restated a “buy” rating on shares of MasTec in a report on Monday, May 4th. Finally, Cantor Fitzgerald upped their target price on shares of MasTec from $545.00 to $581.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $427.32.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 6,500 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 10,816 shares of the company’s stock, valued at $4,014,574.72. The trade was a 37.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 21.40% of the company’s stock.

MasTec Price Performance

Shares of MTZ opened at $246.66 on Wednesday. The company has a market cap of $19.81 billion, a P/E ratio of 39.34 and a beta of 1.81. MasTec, Inc. has a fifty-two week low of $171.05 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 moving average price is $332.81 and its 200 day moving average price is $337.74.

MasTec (NYSE:MTZ) last issued 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). MasTec had a net margin of 3.07% and a return on equity of 18.08%. 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 prior year, the business earned $1.49 EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. On average, research analysts forecast that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.

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.