Zacks Research Downgrades MasTec (NYSE:MTZ) to Hold

Key Points

• Zacks Research downgraded MasTec from a “strong-buy” to a “hold,” even as most other analysts remain bullish on the stock.
• Other firms recently raised price targets on MasTec, and the stock currently has a consensus rating of Moderate Buy with an average target price of $459.28.
• MasTec reported strong quarterly results, beating EPS and revenue estimates, while insiders recently sold shares and institutional ownership remains high at 78.10%.

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

Several other research firms have also issued reports on MTZ. UBS Group increased their price objective on MasTec from $420.00 to $453.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. The Goldman Sachs Group boosted their target price on shares of MasTec from $348.00 to $487.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Truist Financial upped their target price on shares of MasTec from $425.00 to $518.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Robert W. Baird increased their target price on shares of MasTec from $348.00 to $473.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Finally, Stifel Nicolaus set a $455.00 price target on shares of MasTec in a report on Monday, May 4th. Nineteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, MasTec presently has a consensus rating of "Moderate Buy" and a consensus price target of $459.28.

MasTec Stock Performance

NYSE:MTZ opened at $416.04 on Monday. The firm has a market capitalization of $32.88 billion, a PE ratio of 72.86 and a beta of 1.77. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. MasTec has a 12-month low of $160.08 and a 12-month high of $441.43. The firm has a 50-day moving average price of $387.56 and a 200 day moving average price of $313.43.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share 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 company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company's quarterly revenue was up 34.5% on a year-over-year basis. 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 anticipate that MasTec will post 8.5 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the sale, the director directly owned 10,816 shares of the company's stock, valued at $4,014,574.72. This represents a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 30,646 shares of the company's stock, valued at $12,779,382. This trade represents a 8.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 21.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MasTec

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in MasTec by 178.6% in 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. Peconic Partners LLC lifted its stake in shares of 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 purchasing an additional 850,000 shares during the period. First Trust Advisors LP increased its holdings in MasTec by 7.6% in the first quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company's stock valued at $454,163,000 after purchasing an additional 100,151 shares during the last quarter. Bank of America Corp DE boosted its holdings in MasTec by 6.0% during the first quarter. Bank of America Corp DE now owns 1,330,066 shares of the construction company's stock worth $427,935,000 after buying an additional 75,100 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of MasTec by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 1,220,703 shares of the construction company's stock valued at $265,395,000 after acquiring an additional 94,344 shares during the last quarter. Institutional investors own 78.10% of the company's stock.

MasTec Company Profile

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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