JPMorgan Chase & Co. Has Lowered Expectations for MasTec (NYSE:MTZ) Stock Price

Key Points

• JPMorgan lowered MasTec’s price target from $369 to $303 while maintaining an “overweight” rating, implying nearly 59% upside from the stock’s reported $190.64 price.
• Other analysts also reduced their targets, but sentiment remains positive: 19 analysts rate MasTec a Buy and three rate it Hold, producing a consensus “Moderate Buy” rating and a $376.85 average target.
• MasTec’s latest quarter showed revenue growth of 23.4% year over year to $4.37 billion, though earnings per share of $2.22 slightly missed estimates. Institutional investors own approximately 78.1% of the company.

MasTec (NYSE:MTZ - Get Free Report) had its price objective decreased by analysts at JPMorgan Chase & Co. from $369.00 to $303.00 in a report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 58.94% from the company's current price.

A number of other brokerages have also weighed in on MTZ. Stifel Nicolaus lowered their target price on MasTec from $376.00 to $305.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. TD Cowen decreased their price objective on shares of MasTec from $420.00 to $320.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Piper Sandler decreased their price objective on shares of MasTec from $321.00 to $313.00 and set a "neutral" rating on the stock in a report on Monday, September 28th. The Goldman Sachs Group lowered their price objective on shares of MasTec from $508.00 to $409.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Finally, Guggenheim boosted their target price on shares of MasTec from $480.00 to $518.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Nineteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $376.85.

MasTec Price Performance

Shares of NYSE MTZ traded down $0.38 during mid-day trading on Monday, hitting $190.64. 842,955 shares of the stock were exchanged, compared to its average volume of 1,198,916. The company has a market cap of $15.31 billion, a P/E ratio of 30.41 and a beta of 1.84. The stock's fifty day simple moving average is $235.10 and its two-hundred day simple moving average is $319.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. MasTec has a twelve month low of $182.34 and a twelve month high of $441.43.

MasTec (NYSE:MTZ - Get Free Report) last released 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). The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.30 billion. MasTec had a net margin of 3.07% and a return on equity of 18.08%. 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 business 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, analysts forecast that MasTec will post 8.87 EPS for the current fiscal year.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently modified their holdings of the business. KRS Capital Management LLC increased its position in shares of MasTec by 6.7% during the third quarter. KRS Capital Management LLC now owns 5,918 shares of the construction company's stock worth $1,264,000 after acquiring an additional 374 shares in the last quarter. Pension & Wealth Management Advisors Inc. bought a new stake in MasTec in the 3rd quarter valued at $125,000. Community Trust & Investment Co. lifted its position in MasTec by 26.2% in the 3rd quarter. Community Trust & Investment Co. now owns 93,066 shares of the construction company's stock valued at $19,881,000 after acquiring an additional 19,303 shares in the last quarter. Avior Wealth Management LLC boosted its stake in MasTec by 47.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,164 shares of the construction company's stock worth $462,000 after purchasing an additional 700 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its stake in MasTec by 40.7% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 197 shares of the construction company's stock worth $42,000 after purchasing an additional 57 shares during the period. 78.10% of the stock is owned by institutional investors.

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.

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