JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MasTec (NYSE:MTZ) Stock

Key Points

• JPMorgan raised its price target on MasTec from $471 to $491 and kept an overweight rating, implying about 17% upside from the prior close.
• Other analysts were also bullish, with several firms lifting targets and ratings; overall, MasTec now has 18 Buy ratings, 2 Holds, and a consensus “Moderate Buy” with an average target of $458.06.
• MasTec recently posted strong quarterly results, beating EPS and revenue estimates, while revenue jumped 34.5% year over year and the stock traded near its 52-week high.

MasTec (NYSE:MTZ - Get Free Report) had its target price upped by stock analysts at JPMorgan Chase & Co. from $471.00 to $491.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 17.06% from the company's previous close.

A number of other equities research analysts also recently issued reports on the company. Cantor Fitzgerald upped their price objective on MasTec from $347.00 to $545.00 and gave the company an "overweight" rating in a research report on Monday. Truist Financial increased their target price on MasTec from $425.00 to $518.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Wall Street Zen raised MasTec from a "hold" rating to a "buy" rating in a research report on Sunday, February 22nd. Robert W. Baird increased their target price on MasTec from $348.00 to $473.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Finally, Mizuho boosted their target price on shares of MasTec from $428.00 to $498.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Eighteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $458.06.

MasTec Price Performance

Shares of NYSE:MTZ traded down $0.84 during mid-day trading on Wednesday, reaching $419.46. The stock had a trading volume of 337,389 shares, compared to its average volume of 952,634. MasTec has a 1 year low of $145.46 and a 1 year high of $441.43. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69. The business's 50 day moving average price is $344.47 and its 200 day moving average price is $269.65. The company has a market cap of $33.15 billion, a P/E ratio of 73.49 and a beta of 1.82.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company's quarterly revenue was up 34.5% compared to the same quarter last year. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. Research analysts expect that MasTec will post 8.52 EPS for the current fiscal year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the transaction, the director directly owned 30,646 shares in the company, valued at $12,779,382. The trade was a 8.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Javier Alberto Palomarez sold 950 shares of the business's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $325.43, for a total value of $309,158.50. Following the transaction, the director owned 10,592 shares in the company, valued at approximately $3,446,954.56. This trade represents a 8.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,450 shares of company stock valued at $3,512,759 in the last quarter. 21.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTZ. Migdal Insurance & Financial Holdings Ltd. purchased a new position in MasTec during the 4th quarter worth $30,000. Ascentis Independent Advisors purchased a new position in shares of MasTec in the 1st quarter valued at about $30,000. Root Financial Partners LLC acquired a new stake in MasTec in the 3rd quarter worth about $49,000. CIBC Private Wealth Group LLC boosted its holdings in MasTec by 372.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company's stock worth $51,000 after buying an additional 186 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in MasTec by 105.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company's stock worth $61,000 after buying an additional 182 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

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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