MasTec (NYSE:MTZ) Shares Down 4.5% - Here's What Happened

Key Points

• MasTec shares fell 4.5% to about $215.47 in midday trading, with volume down 62% from its average. The stock remains well below its 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $422, although several firms recently lowered their targets and Zacks downgraded the stock to “Hold.”
• MasTec’s latest quarter showed revenue rising 23.4% year over year to $4.37 billion, beating estimates, while EPS of $2.22 narrowly missed consensus. Institutional investors own 78.1% of the company’s shares.

MasTec, Inc. (NYSE:MTZ - Get Free Report) shares were down 4.5% on Thursday . The company traded as low as $219.02 and last traded at $215.4730. 439,575 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,148,794 shares. The stock had previously closed at $225.62.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MTZ. KeyCorp decreased their price target on MasTec from $500.00 to $371.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. Cantor Fitzgerald raised their price objective on shares of MasTec from $545.00 to $581.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Zacks Research downgraded shares of MasTec from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 26th. Truist Financial restated a "buy" rating and set a $428.00 target price (down from $550.00) on shares of MasTec in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of MasTec from $508.00 to $409.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, MasTec currently has an average rating of "Moderate Buy" and a consensus price target of $422.00.

MasTec Trading Down 4.8%

The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 34.26 and a beta of 1.82. The business has a 50 day moving average of $284.15 and a 200 day moving average of $334.01.

MasTec (NYSE:MTZ - Get Free Report) last announced its earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.01). The firm had revenue of $4.37 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 EPS. 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, research analysts forecast that MasTec, Inc. will post 8.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MasTec

A number of hedge funds and other institutional investors have recently made changes to their positions in MTZ. Transamerica Financial Advisors LLC acquired a new position in shares of MasTec during the 2nd quarter valued at about $32,000. Bell Investment Advisors Inc purchased a new stake in MasTec in the second quarter valued at approximately $32,000. Ascentis Independent Advisors purchased a new stake in MasTec in the first quarter valued at approximately $30,000. Solstein Capital LLC acquired a new position in MasTec during the second quarter worth approximately $58,000. Finally, GHP Investment Advisors Inc. purchased a new position in MasTec during the first quarter worth approximately $65,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

About MasTec

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.

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