MasTec (NYSE:MTZ) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded MasTec from “strong buy” to “hold,” while Wall Street analysts overall maintain a “Moderate Buy” consensus with an average price target of $427.32.
• MasTec shares opened at $251.15, well below their 12-month high of $441.43, despite trading up 1.0% in the reported session.
• The company’s latest quarterly revenue rose 23.4% year over year to $4.37 billion and exceeded estimates, although earnings of $2.22 per share narrowly missed consensus by one cent.

MasTec (NYSE:MTZ - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Citigroup reduced their target price on MasTec from $483.00 to $408.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Morgan Stanley set a $369.00 price target on MasTec in a research report on Friday, July 31st. Stifel Nicolaus set a $455.00 price objective on MasTec in a research note on Monday, May 4th. Cantor Fitzgerald boosted their price objective on MasTec from $545.00 to $581.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, Wall Street Zen downgraded MasTec from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Nineteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $427.32.

MasTec Trading Up 1.0%

Shares of MasTec stock opened at $251.15 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $327.72 and a 200-day simple moving average of $337.72. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 40.06 and a beta of 1.81. MasTec has a 12-month low of $171.05 and a 12-month high of $441.43.

MasTec (NYSE:MTZ - Get Free Report) last announced 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 return on equity of 18.08% and a net margin of 3.07%.The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. MasTec's revenue was up 23.4% compared to the same quarter last year. 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, equities analysts forecast that MasTec will post 8.91 EPS for the current fiscal year.

Insider Activity

In related news, Director Ernst N. Csiszar sold 6,500 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the transaction, the director owned 10,816 shares in the company, valued at $4,014,574.72. The trade was a 37.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 21.40% of the stock is currently owned by corporate insiders.

Institutional Trading of MasTec

Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in shares of MasTec by 50,879.4% in the second 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 purchasing an additional 37,143,979 shares during the period. BlackRock Inc. acquired a new stake in shares of MasTec during the second quarter worth $3,178,069,000. Victory Capital Management Inc. lifted its holdings in shares of MasTec by 178.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company's stock worth $573,304,000 after purchasing an additional 1,690,896 shares during the period. Hill City Capital LP purchased a new position in MasTec in the 2nd quarter valued at $896,609,300,000. Finally, Peconic Partners LLC grew its position in MasTec by 113.3% in the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company's stock valued at $347,792,000 after buying an additional 850,000 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

About MasTec

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.

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