MasTec (NYSE:MTZ – Get Free Report) was upgraded by analysts at Piper Sandler to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.
Several other equities research analysts have also recently commented on MTZ. The Goldman Sachs Group lowered their target price on MasTec from $508.00 to $409.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. UBS Group decreased their price target on MasTec from $453.00 to $410.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Robert W. Baird lowered their price objective on MasTec from $475.00 to $363.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. CICC Research assumed coverage on MasTec in a research report on Thursday, May 21st. They issued an “outperform” rating and a $480.00 price objective for the company. Finally, Wall Street Zen cut MasTec from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, MasTec has an average rating of “Moderate Buy” and an average target price of $422.00.
Get Our Latest Analysis on MTZ
MasTec Price Performance
MasTec (NYSE:MTZ – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business earned $1.49 EPS. The business’s revenue for the quarter 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. Sell-side analysts forecast that MasTec will post 8.91 EPS for the current fiscal year.
Institutional Investors Weigh In On MasTec
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in shares of MasTec by 50,879.4% in the 2nd quarter. California State Teachers Retirement System now owns 37,216,983 shares of the construction company’s stock valued at $15,484,498,000 after acquiring an additional 37,143,979 shares during the last quarter. BlackRock Inc. bought a new position in MasTec during the 2nd quarter worth approximately $3,178,069,000. Hill City Capital LP bought a new position in MasTec during the 2nd quarter worth approximately $896,609,300. Victory Capital Management Inc. boosted its stake in MasTec by 178.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock worth $573,304,000 after acquiring an additional 1,690,896 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in MasTec during the second quarter valued at approximately $555,825,000. Institutional investors own 78.10% of the company’s stock.
MasTec Company Profile
MasTec, Inc is an infrastructure construction and engineering company that serves communications, energy and utility customers. The company provides design, construction, installation, maintenance and upgrade services for infrastructure projects across the United States and, in certain activities, Canada.
MasTec’s communications business supports wireless, wireline and broadband networks, including fiber-optic systems, 5G infrastructure and other communications facilities. Its energy and infrastructure operations serve electric utilities, renewable energy developers and other industrial customers through services such as power transmission and distribution construction, solar and wind project development, pipeline construction and other related infrastructure work.
MasTec traces its roots to the telecommunications and utility construction businesses and was formed as MasTec in 1994.
Featured Articles
- Five stocks we like better than MasTec
- Sezzle’s BNPL Growth Is Working, But the Stock Comes With a Catch
- Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal
- GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus
- Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer
Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.
