Hedge fund billionaire Daniel Loeb reshuffled his exposure in the construction & engineering industry at Third Point LLC in the fourth quarter of FY25.
The investor opened a new position in APi Group Corporation (NYSE:APG), acquiring 3,000,000 shares in the quarter.
Also, the fund boosted its position in MasTec, Inc. (NYSE:MTZ) by 200,000 shares, bringing its total to 925,000.
Meanwhile, as of Dec. 31, 2025, the fund slashed shares in Comfort Systems USA, Inc. (NYSE:FIX) by 47% to 105,000.
APG: Recent Key Events
- APi Group reported first-quarter EPS of 32 cents, beating analyst estimates of 30 cents and rising 28% year over year (Y/Y). Revenue increased 15.3% Y/Y to $1.98 billion, ahead of the $1.92 billion consensus estimate.
- The company raised its FY2026 revenue guidance to $8.48 billion–$8.68 billion from the prior range of $8.40 billion–$8.60 billion, compared with analyst estimates of $8.53 billion.
- The company also forecast second-quarter revenue of $2.18 billion–$2.23 billion, above the consensus estimate of $2.16 billion.
- Following earnings, several analysts raised the price forecast. Truist Securities raised the price forecast from $53 to $55, Barclays boosted the price forecast from $52 to $54, and UBS increased the price forecast from $54 to $56.
- Also, APi priced a private offering of $500 million in 5.75% senior unsecured notes due 2034. Proceeds will primarily fund the acquisitions of Onyx-Fire Protection Services and Wtech Fire Group, along with general corporate purposes.
APG: Technical Analysis
From a trend perspective, APG remains in a constructive longer-term structure: it's trading 9.2% above its 200-day SMA ($39.44), and the 50-day SMA is still above the 200-day SMA, a classic bullish long-term alignment. The near-term picture is choppier, though, with the stock trading 7.4% below its 20-day SMA ($46.51) and 1.6% below its 50-day SMA ($43.77), which often signals consolidation after a strong advance.
Top ETF Exposure
- iShares Morningstar Small-Cap Growth ETF (NYSE:ISCG): 0.56% Weight
- Adaptiv Select ETF (NYSE:ADPV): 4.04% Weight
- Capital Group US Large Value ETF (NYSE:CGVV): 3.11% Weight
MTZ: Recent Key Events
- MasTec reported first-quarter EPS of $1.39, surpassing analyst estimates of $0.99 and rising sharply from $0.51 a year earlier. Revenue climbed 34.5% Y/Y to $3.83 billion, ahead of the $3.49 billion consensus estimate.
- For the second quarter, the company expects adjusted EPS of $2.20, above analyst projections of $2.12, and anticipates revenue of approximately $4.3 billion versus the $4.2 billion consensus estimate.
- The company raised its FY26 adjusted EPS guidance from $8.40 to $8.79 compared with the analyst consensus of $8.51. MasTec sees full-year revenue of about $17.5 billion, above Wall Street expectations of $17.04 billion.
- Several analysts raised price forecasts following the results: Mizuho increased its forecast from $428 to $498, while TD Cowen lifted its estimate from $320 to $445. Goldman Sachs raised its forecast from $348 to $487, and Citigroup moved higher from $440 to $483. Additionally, Truist Financial raised its forecast from $425 to $518, and Robert W. Baird increased its forecast from $348 to $473.
MTZ: Technical Analysis
The bigger picture remains firmly bullish: MTZ is up 166.83% over the past 12 months and is trading 6.2% above its 20-day SMA, 20% above its 50-day SMA, and 68.8% above its 200-day SMA—classic "extended but trending" behavior. The 20-day SMA is above the 50-day SMA, and the golden cross (50-day above the 200-day) that formed in May 2025 continues to reinforce the longer-term uptrend.
Top ETF Exposure
- First Trust RBA American Industrial Renaissance ETF (NASDAQ:AIRR): 4.72% Weight
- First Trust Industrials/Producer Durables AlphaDEX Fund (NYSE:FXR): 1.71% Weight
- Alpha Architect US Quantitative Momentum ETF (NASDAQ:QMOM): 2.31% Weight
FIX: Recent Key Events
- The company posted earnings of $10.51 per share, beating the consensus estimate of $6.78. Revenue came in at $2.865 billion, ahead of the $2.384 billion estimate.
- The board declared a quarterly dividend of 80 cents per share, up 10 cents from the prior payout. The dividend is payable May 26, 2026, to shareholders of record as of May 15, 2026.
- Chief Executive Officer Brian Lane said the company delivered “unprecedented results,” highlighting 51% organic revenue growth and more than a doubling of per-share earnings compared with the prior-year period.
- UBS analyst Joshua Chan maintained a Buy rating and raised the price forecast from $1680 to $1992, following the earnings results.
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