MasTec (NYSE:MTZ) Rating Increased to Strong-Buy at Piper Sandler

Piper Sandler upgraded shares of MasTec (NYSE:MTZ) to a strong-buy rating in a research report report published on Tuesday,Zacks reports.

A number of other brokerages also recently weighed in on MTZ. JPMorgan Chase & Co. raised their target price on MasTec from $471.00 to $491.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of MasTec from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. KeyCorp reduced their price target on MasTec from $500.00 to $371.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Robert W. Baird dropped their price objective on MasTec from $475.00 to $363.00 and set an “outperform” rating on the stock in a research note on Monday, August 3rd. Finally, Guggenheim boosted their target price on MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.00.

MasTec Trading Down 2.1%

MasTec stock opened at $241.00 on Tuesday. MasTec has a 52 week low of $176.31 and a 52 week high of $441.43. The stock has a market capitalization of $19.35 billion, a P/E ratio of 38.44 and a beta of 1.82. The stock has a 50-day simple moving average of $298.62 and a 200 day simple moving average of $335.95. 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 (NYSE:MTZ) last issued its quarterly earnings data 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 company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.30 billion. MasTec had a net margin of 3.07% and a return on equity of 18.08%. MasTec’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 company 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. Analysts expect that MasTec will post 8.91 earnings per share for the current year.

Institutional Trading of MasTec

A number of hedge funds have recently bought and sold shares of MTZ. Ascentis Independent Advisors bought a new position in MasTec during the first quarter valued at about $30,000. Bell Investment Advisors Inc purchased a new position in MasTec in the second quarter valued at about $32,000. Transamerica Financial Advisors LLC purchased a new position in MasTec in the second quarter valued at about $32,000. CIBC Private Wealth Group LLC grew its position in shares of MasTec by 372.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company’s stock valued at $51,000 after acquiring an additional 186 shares during the period. Finally, Solstein Capital LLC purchased a new stake in shares of MasTec during the 2nd quarter worth approximately $58,000. 78.10% of the stock is currently owned by institutional investors.

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.