Track market-moving stories before they get noisy

Key Takeaways EMCOR's RPO reached $17.14B, up 43.9% yoy, supported by data centers and infrastructure demand.MasTec's backlog climbed 30% to $21.4B, while its Superior acquisition is expected to boost prospects.EME posted 35.49% ROE, while MTZ's 2026-27 EPS estimates imply faster yoy growth. The growing investments in data centers and mission-critical infrastructure are creating a diversified market exposure for firms like EMCOR Group, Inc. (EME - Free Report) and MasTec, Inc. (MTZ - Free Report) . Customers are increasing investments in data centers, AI infrastructure, communications networks and other mission-critical facilities, creating demand for contractors with the skilled workforce and operational capabilities to deliver complex projects efficiently. However, project funding volatility, elevated inflation and ongoing geopolitical uncertainties are concerning for the near-term prospects to some extent.

EMCOR offers mechanical and electrical construction, industrial and energy infrastructure services for a diverse range of businesses, serving commercial, industrial, utility and institutional clients in the United States. MasTec engages in the engineering, building, installation, maintenance and upgrade of energy, communication and utility infrastructure and is working to expand its margins and improve execution.

Let’s compare the fundamentals of the two infrastructure stocks to determine which one has better upside potential.

The Case for EMCOR StockEMCOR’s U.S. construction business is benefiting from robust demand for data centers, AI infrastructure, network and communications, healthcare, and water and wastewater projects. In the first half of 2026, company-wide revenues rose 19.7% year over year to $9.78 billion, reflecting strong activity across its businesses. As of June 30, 2026, RPOs reached $17.14 billion, up 43.9% year over year and 29% from December 2025, with approximately 95% of the growth attributed to organic demand. Investments in prefabrication, construction technologies, workforce training, virtual design and construction, and advanced project planning further support productivity and delivery capabilities on increasingly complex projects.

Besides, EME’s first-half 2026 performance highlights improving operating leverage and disciplined cost management. Strong construction activity, improved Electrical Construction profitability and better Building Services margins supported performance. Beyond market tailwinds, EMCOR’s acquisition strategy is strengthening its electrical construction footprint and expanding its ability to serve complex infrastructure customers. Its 2026 electrical contractor acquisitions—including B&B Electric, Sidney Electric, Giles Electric, Schmidt Electric and Connelly Electric—bring complementary capabilities, geographic reach and access to skilled union labor. Collectively, the acquired businesses generated approximately $625 million in trailing 12-month revenues and $105 million in EBITDA, while management expects $250-$275 million in incremental revenues in the second half of 2026 from the acquisitions.

However, the company faces several macroeconomic and operational risks that could affect project execution, profitability and future growth. Economic and geopolitical uncertainty, changing interest rates and volatility in customer spending may influence construction activity and funding decisions, particularly for large-scale infrastructure and industrial projects.

Inflation in labor, materials, equipment and energy costs may pressure project margins, especially when contractual pricing mechanisms do not fully offset cost increases. Changes in project mix, competitive bidding, tariffs, regulatory requirements and reduced refinery turnaround activity could further affect profitability. Consequently, sustaining margins and converting its record backlog into revenues and cash flow remain key execution priorities.

The Case for MasTec StockMasTec is benefiting from strong infrastructure spending trends, especially in AI-related projects such as power delivery, grid modernization, data-center construction, fiber connectivity and related infrastructure. Its record 18-month backlog reached $21.4 billion in the second quarter of 2026, up 30% year over year and 5% sequentially, with Clean Energy & Infrastructure backlog rising 58% year over year to $7.8 billion. Power Delivery backlog also reached a record $6.3 billion, reflecting continued award activity.

Also, MTZ’s acquisition strategy is enhancing its capabilities in attractive, high-growth infrastructure markets while expanding its ability to execute increasingly complex projects. The July 2026 acquisition of The Superior Group is particularly compelling. Superior is expected to contribute $800-$900 million in revenues and $100-$115 million in adjusted EBITDA during the remainder of 2026, making the deal immediately accretive to earnings and cash flow based on management’s preliminary estimates.

However, the ongoing weakness in its Communications segment, macroeconomic and industry-specific uncertainties, and issues in cash flow generation are concerning for near-term prospects. In the second quarter of 2026, MasTec’s Communications segment remains a notable weak spot, with EBITDA declining 11.6% to $73.1 million, while the EBITDA margin contracted 170 basis points to 8.2% from 9.9% a year ago. The deterioration suggests that revenue growth is not translating efficiently into profitability in this business. While management continues to expect Communications revenues of roughly $3.25 billion in 2026, the high-single-digit margin outlook leaves limited room for execution setbacks.

Additionally, MTZ is subject to risks from inflation, interest rates, tariffs, regulatory and policy changes, permitting, supply-chain constraints, labor availability and changes in customer capital-expenditure plans. These risks are particularly relevant because MasTec operates across capital-intensive markets, including clean energy, power infrastructure, communications and pipelines. Weak free cash flow is also another concern for the company.

Stock Performance & Valuation TrendAs witnessed from the chart below, in the year-to-date period, EMCOR’s share price performance has outperformed MasTec and the broader Construction sector.

Image Source: Zacks Investment Research

Considering valuation, over the last five years, EMCOR has been trading above MasTec on a forward 12-month price-to-earnings (P/E) ratio basis.

Image Source: Zacks Investment Research

Overall, from these technical indicators, it can be deduced that EME stock offers a diminishing growth trend but with a premium valuation, while MTZ stock offers a declining trend with a discounted valuation.

Comparing EPS Estimate Trends: EME vs. MTZThe Zacks Consensus Estimate for EME’s 2026 and 2027 earnings has remained unchanged over the past 60 days at $32.98 and $37.23 per share, respectively. However, the estimates for 2026 and 2027 indicate year-over-year improvements of 27.5% and 12.9%, respectively.

EME’s EPS Trend

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for MTZ’s 2026 and 2027 earnings has trended downward over the past 30 days to $9.27 and $12.67 per share, respectively. However, the revised estimates for 2026 and 2027 imply year-over-year growth of 41.5% and 36.7%, respectively.

MTZ’s EPS Trend

Image Source: Zacks Investment Research

Return on Equity (ROE) of EME & MTZ StocksEMCOR’s trailing 12-month ROE of 35.49% significantly exceeds MasTec’s average, underscoring its efficiency in generating shareholder returns.

Image Source: Zacks Investment Research

Which Stock Has More Upside Potential: EME Stock or MTZ Stock?EMCOR is supported by strong organic demand, a record remaining performance obligation (RPO) balance and improving operating efficiency. Its investments in construction technology, workforce capabilities and electrical contractor acquisitions are strengthening its ability to execute complex projects. Stable earnings estimates and superior return on equity also highlight its financial execution and profitability advantages. However, its premium valuation and exposure to labor inflation, project costs and changing customer spending could limit near-term gains

MasTec offers exposure to expanding power infrastructure and clean energy markets, with a growing backlog and the Superior Group acquisition broadening its capabilities. Its earnings growth outlook is encouraging, but downward earnings estimate revisions, weakening Communications segment profitability and cash flow concerns raise execution risks. Integration challenges and macroeconomic uncertainties could further pressure results.

Even though both stocks currently carry a Zacks Rank #4 (Sell), EME stock appears to be the more attractive option for investors choosing between the two, given its stronger execution, profitability and earnings estimate stability. MasTec’s discounted valuation and infrastructure exposure may appeal to risk-tolerant investors, but its deteriorating earnings revisions warrant caution.

Investors may be better off waiting for improved market signals and clearer evidence of sustained operating performance before buying either stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) will release its third quarter financial results on Thursday, October 29, 2026, after the market close. In addition, MasTec's senior management will host a webcast to review these results on Friday, October 30, 2026, at 9:00 a.m. ET. The event will be broadcast live and can be accessed through the MasTec Investor Relations website at https://investors.mastec.com/events-presentations/events. A replay link, along with the earnings rele.

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MasTec (NYSE:MTZ – Get Free Report) and Solarmax Technology (NASDAQ:SMXT – Get Free Report) are both industrials companies, but which is the better investment? We will compare the two businesses based on the strength of their earnings, risk, dividends, valuation, institutional ownership, profitability and analyst recommendations.

Analyst Ratings This is a summary of current ratings and target prices for MasTec and Solarmax Technology, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score MasTec 0 3 19 0 2.86 Solarmax Technology 1 0 0 0 1.00 MasTec currently has a consensus price target of $408.95, suggesting a potential upside of 82.70%. Given MasTec’s stronger consensus rating and higher probable upside, equities analysts plainly believe MasTec is more favorable than Solarmax Technology.

Insider and Institutional Ownership 78.1% of MasTec shares are held by institutional investors. 21.4% of MasTec shares are held by insiders. Comparatively, 25.4% of Solarmax Technology shares are held by insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock is poised for long-term growth. Volatility & Risk MasTec has a beta of 1.84, indicating that its share price is 84% more volatile than the S&P 500. Comparatively, Solarmax Technology has a beta of 0.24, indicating that its share price is 76% less volatile than the S&P 500.

Profitability This table compares MasTec and Solarmax Technology’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets MasTec 3.07% 18.08% 5.97% Solarmax Technology -5.40% N/A -7.25% Valuation & Earnings This table compares MasTec and Solarmax Technology”s gross revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio MasTec $14.30 billion 1.26 $399.04 million $6.27 35.70 Solarmax Technology $90.98 million 0.23 -$6.32 million ($1.32) -3.33 MasTec has higher revenue and earnings than Solarmax Technology. Solarmax Technology is trading at a lower price-to-earnings ratio than MasTec, indicating that it is currently the more affordable of the two stocks.

Summary MasTec beats Solarmax Technology on 13 of the 14 factors compared between the two stocks.

About MasTec (Get Free Report)

MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other. The company build infrastructure for wireless and wireline/fiber communications; clean energy infrastructure comprising renewable energy power generation; pipeline infrastructure, including natural gas, water, carbon capture sequestration, and other product transport; power delivery services, such as electrical and gas transmission, and distribution systems; industrial and heavy civil infrastructure, including roads, bridges, and rail; and water infrastructure. It also installs electrical and other gas distribution and transmission systems, power generation, power generation, civil and industrial facilities, pipelines, and fiber optic and other cables, as well as install-to-the-home services. In addition, the company offers maintenance and upgrade support services comprising maintenance of customers' distribution facilities, networks, and infrastructure, including communications, power generation, pipeline, electrical distribution and transmission, and civil and industrial and heavy civil infrastructure; service restoration for natural disasters and accidents; and routine replacements and upgrades to overhauls. Its customers include wireless and wireline/fiber service providers, broadband operators, install-to-the-home service providers, public and private energy providers, including renewable and other energy providers, pipeline operators, civil and industrial infrastructure providers, and government entities. MasTec, Inc. was founded in 1929 and is headquartered in Coral Gables, Florida.

(Get Free Report)

SolarMax Technology, Inc., through its subsidiaries, operates as an integrated solar energy company in the United States and China. The company engages in the sale and installation of photovoltaic and battery backup systems; sale of LED systems; and identifying and procuring solar farm projects for resale to third parties, as well as provision of engineering, procuring, and construction services for solar farm projects. It serves residential, commercial, and government customers. SolarMax Technology, Inc. was incorporated in 2008 and is headquartered in Riverside, California.

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Key Takeaways MasTec's Q2 revenues rose 23.4% year over year and adjusted EPS surged 48.8% to $2.22.MTZ's record $21.4 billion backlog climbed 30%, led by a 58% gain in Clean Energy and Infrastructure.The Superior Group acquisition adds 3,000 employees and strengthens MasTec's data-center capabilities. MasTec, Inc.’s (MTZ - Free Report) latest outlook underscores a strong 2026 growth trajectory, with adjusted earnings per share (EPS) expected to jump 42% year over year to $9.30. The upgraded guidance follows a record second quarter, supported by broad-based demand and improving profitability.

In the second quarter of 2026, revenues increased 23.4% year over year to $4.37 billion, while adjusted EBITDA climbed nearly 40% to $384.2 million. Adjusted EPS surged 48.8% to $2.22, with the adjusted EBITDA margin expanding 100 basis points (bps) to 8.8%. Backlog provides further visibility. MasTec’s record 18-month backlog reached $21.4 billion, up 30% year over year and $1.1 billion sequentially. Clean Energy and Infrastructure led the backlog gains, rising 58% year over year. The segment’s revenues surged 43.4%, while EBITDA advanced 53.9%.

Power Delivery also remained a solid contributor, with revenues up 19.2% and EBITDA rising 23.7%. Pipeline Infrastructure was another standout, delivering 19.1% revenue growth and a 91% increase in EBITDA. Broad-based growth across communications, clean energy, power delivery and pipeline infrastructure markets is aiding the growth trajectory. Higher project activity, particularly in energy infrastructure, along with improved execution and productivity, adds to the tailwinds.

MTZ also closed the acquisition of The Superior Group, adding about 3,000 employees and strengthening its data-center infrastructure capabilities. The deal broadens its exposure to growing power and digital infrastructure demand. The combination of accelerating backlog, margin expansion, segment diversification and Superior’s capabilities makes the 42% EPS growth outlook a compelling marker of MasTec’s improving earnings power.

Competitive Landscape: MasTec vs. EMCOR & QuantaAI-driven data-center expansion, grid modernization and digital infrastructure spending are creating a favorable demand backdrop for MasTec, alongside other renowned infrastructure peers including EMCOR Group, Inc. (EME - Free Report) and Quanta Services, Inc. (PWR - Free Report) .

EMCOR benefits from robust AI infrastructure and data-center demand, supported by $15.62 billion of remaining performance obligations and disciplined capital allocation spanning organic investment, acquisitions and shareholder returns. Quanta remains leveraged to grid modernization and power demand from data centers, while pursuing disciplined capital deployment.

However, labor shortages, tariffs, inflation, permitting delays, elevated rates and potential project-cost pressures remain near-term risks for MTZ as well as its peers, including EMCOR and Quanta. Yet, MasTec’s broader exposure to clean energy, pipelines, communications and mission-critical construction offers diversification against these peers.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have plunged 35.2% over the past six months, underperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 index.

Image Source: Zacks Investment Research

MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 18.28, as shown in the chart below.

Image Source: Zacks Investment Research

EPS Trend of MTZMTZ’s earnings estimates for 2026 have trended down over the past 30 days to $9.30 per share, while they grew over the same time frame to $12.83 per share for 2027. The estimated figures for 2026 and 2027 imply 42% and 37.9% year-over-year growth, respectively.

Image Source: Zacks Investment Research

MasTec stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MasTec, Inc. (NYSE:MTZ – Get Free Report) passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $258.65 and traded as low as $206.00. MasTec shares last traded at $210.3970, with a volume of 1,390,588 shares traded.

Wall Street Analysts Forecast Growth A number of analysts recently issued reports on the stock. Mizuho lowered their price target on shares of MasTec from $502.00 to $457.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. The Goldman Sachs Group lowered their target price on shares of MasTec from $508.00 to $409.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Guggenheim raised 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. Robert W. Baird cut their price target on MasTec from $475.00 to $363.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. Finally, Morgan Stanley set a $369.00 price target on MasTec in a report on Friday, July 31st. Nineteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average target price of $421.60.

View Our Latest Report on MasTec

MasTec Stock Performance 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 firm’s fifty day moving average is $258.65 and its 200 day moving average is $328.61. The company has a market cap of $16.90 billion, a PE ratio of 33.56 and a beta of 1.82. MasTec (NYSE:MTZ – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the business earned $1.49 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, research analysts predict that MasTec, Inc. will post 8.9 EPS for the current fiscal year.

Institutional Investors Weigh In On MasTec Several institutional investors have recently bought and sold shares of MTZ. Transamerica Financial Advisors LLC acquired a new position in shares of MasTec during the second quarter valued at approximately $32,000. Bell Investment Advisors Inc acquired a new stake in shares of MasTec in the second quarter worth approximately $32,000. Ascentis Independent Advisors acquired a new stake in shares of MasTec in the first quarter worth approximately $30,000. Solstein Capital LLC purchased a new stake in shares of MasTec during the second quarter worth approximately $58,000. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of MasTec during the first quarter worth approximately $65,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Company Profile (Get Free Report)

MasTec, Inc is an infrastructure construction and engineering company that provides installation, maintenance and upgrade services for communications, energy and utility networks. Its communications work includes wireless and wireline infrastructure, fiber-optic networks, broadband systems and related engineering and construction services.

The company also supports the development and maintenance of energy infrastructure. Its activities include construction services for renewable energy projects, power transmission and distribution systems, natural gas and oil pipelines, and other industrial infrastructure.

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Key Takeaways MasTec's backlog reached $21.4B, led by Clean Energy & Infrastructure and Power Delivery.Primoris' backlog hit $13.9B, with $1.4B in natural gas power-generation awards.MasTec's ROE was 18.96%, while Primoris traded at a lower forward P/E over five years. The multi-decade infrastructure spending cycle across the United States is creating numerous opportunities for firms like MasTec, Inc. (MTZ - Free Report) and Primoris Services Corporation (PRIM - Free Report) , given that their businesses span renewable energy, pipelines, power delivery, grid modernization, data-center construction, fiber connectivity and related infrastructure.

MasTec engages in the engineering, building, installation, maintenance and upgrade of energy, communication and utility infrastructure and is working on expanding its margins and improving execution. Meanwhile, Primoris is a Texas-based specialty infrastructure contractor with broader exposure across utilities, renewables, pipelines and energy infrastructure.

Let’s compare the fundamentals of the two infrastructure stocks to determine which is the better investment now.

The Case for MasTec StockMasTec is benefiting from strong infrastructure spending trends, especially in AI-related projects such as power delivery, grid modernization, data-center construction, fiber connectivity and related infrastructure. Its record 18-month backlog reached $21.4 billion in the second quarter of 2026, up 30% year over year and 5% sequentially, with Clean Energy & Infrastructure backlog rising 58% year over year to $7.8 billion. Power Delivery backlog also reached a record $6.3 billion, reflecting continued award activity.

Also, MTZ’s acquisition strategy is enhancing its capabilities in attractive, high-growth infrastructure markets while expanding its ability to execute increasingly complex projects. The July 2026 acquisition of The Superior Group is particularly compelling. Superior is expected to contribute $800-$900 million of revenues and $100-$115 million of adjusted EBITDA during the remainder of 2026, making the deal immediately accretive to earnings and cash flow based on management’s preliminary estimates. MasTec’s diversified operating model and strong second-quarter 2026 performance demonstrate its ability to integrate growth opportunities and expand margins.

However, the ongoing weakness in its Communications segment, macroeconomic and industry-specific uncertainties, and issues in cash flow generation are concerning for near-term prospects. In the second quarter of 2026, MasTec’s Communications segment remains a notable weak spot, with EBITDA declining 11.6% to $73.1 million, while the EBITDA margin contracted 170 basis points to 8.2% from 9.9% a year ago. The deterioration suggests that revenue growth is not translating efficiently into profitability in this business. While management continues to expect Communications revenues of roughly $3.25 billion in 2026, the high-single-digit margin outlook leaves limited room for execution setbacks.

Additionally, MTZ is subject to risks from inflation, interest rates, tariffs, regulatory and policy changes, permitting, supply-chain constraints, labor availability and changes in customer capital-expenditure plans. These risks are particularly relevant because MasTec operates across capital-intensive markets, including clean energy, power infrastructure, communications and pipelines. Weak free cash flow is also another concern for the company. For the first six months of 2026, free cash flow was negative $47.6 million against essentially break-even a year earlier. Management expects operating cash flow to exceed $1 billion for full-year 2026 and leverage to remain below 2x, but achieving those targets will require a meaningful improvement in second-half cash generation. Until that happens, weak FCF could constrain financial flexibility and increase investor concerns around capital allocation.

The Case for Primoris StockPrimoris continues to benefit from favorable demand across natural gas generation, renewable energy, pipeline, power delivery and electrical infrastructure. Energy backlog increased to $6.2 billion, driven particularly by fixed awards in natural gas generation, electrical construction and industrial projects. Utilities revenues rose 2.8% year over year to $712.6 million, with backlog reaching $7.7 billion, supported by higher gas and power-delivery activity. As of the second quarter of 2026, PRIM had a record total backlog of $13.9 billion, up $1.9 billion from year-end 2025, including a record $8.2 billion of master service agreement (MSA) backlog.

Record quarterly bookings included approximately $1.4 billion of natural gas power-generation awards, alongside strong awards in electrical construction, industrial services and power delivery. Growing MSA revenues are improving revenue predictability, with annual MSA revenues reaching $2.6 billion on a TTM basis. These trends, supported by rising infrastructure demand, provide a strong foundation for revenue growth and margin improvement beyond 2026. Management expects improving project mix and operational execution to support stronger second-half performance. PRIM also remains focused on expanding MSA revenues and controlling SG&A, targeting full-year SG&A in the low-6% range, which could support future margin expansion.

However, Primoris’ prospects are being weakened by six challenged renewable-energy projects, where cost overruns stemmed from redesign efforts, project sequencing changes, labor-productivity issues, subsurface conditions and unfavorable weather. Consolidated revenues fell 10.7% year over year to $1.69 billion in the second quarter of 2026, primarily because of weaker Energy activity. Energy revenues declined 19.2% to $999.9 million, as new project starts, work releases and financial closes were slower than expected. Companywide gross margin contracted year over year to 4.9% from 12.3%, while operating income swung to a $26.8 million loss against $126.6 million profit in the year-ago period.

Yet, PRIM maintained its 2026 guidance, despite a weak first half, reflecting confidence in a second-half recovery. Adjusted EPS is expected at $2.05-$2.60, while adjusted EBITDA is projected at $275-$325 million. The company ended June 2026 with approximately $958.9 million in liquidity, including $218.2 million of cash and $740.7 million of available revolver capacity. Primoris also repurchased 449,287 shares for $50 million during the second quarter of 2026 and maintained its eight-cent quarterly dividend, while retaining $100 million under its share-repurchase authorization.

Stock Performance & Valuation TrendAs witnessed from the chart below, in the past three months, Primoris’ share price performance has outperformed MasTec’s share price performance and the broader Construction sector, even though all the trendlines reflect a declining trend.

Image Source: Zacks Investment Research

Considering valuation, over the last five years, MasTec has been trading above Primoris on a forward 12-month price-to-earnings (P/E) ratio basis.

Image Source: Zacks Investment Research

Overall, from these technical indicators, it can be deduced that MTZ stock offers a declining growth trend but with a premium valuation, while PRIM stock offers a diminishing trend with a discounted valuation.

Comparing EPS Estimate Trends: MTZ vs. PRIMThe Zacks Consensus Estimate for MTZ’s 2026 earnings has moved south over the past 30 days to $9.30, while the same for 2027 has trended upward to $12.86 per share. The estimates for 2026 and 2027 imply year-over-year growth of 42% and 38.2%, respectively.

MTZ's EPS Trend

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for PRIM’s 2026 and 2027 earnings has trended upward over the past 30 days to $2.02 and $5.09 per share, respectively. The revised estimates for 2026 imply a 64.1% year-over-year decline, while those for 2027 indicate a 151.5% year-over-year surge.

PRIM's EPS Trend

Image Source: Zacks Investment Research

Return on Equity (ROE) of MTZ & PRIM StocksMasTec’s trailing 12-month ROE of 18.96% exceeds Primoris’ average, underscoring its efficiency in generating shareholder returns.

Image Source: Zacks Investment Research

Investment Decision: Should You Choose MTZ Stock or PRIM Stock?MasTec and Primoris are positioned to benefit from robust U.S. infrastructure spending, with exposure to power delivery, renewables, energy infrastructure and other growth markets. However, their near-term fundamentals present different risk-reward profiles.

MasTec boasts a record $21.4 billion backlog, up 30% year over year. The Superior Group acquisition is also expected to contribute $800-$900 million of 2026 revenues and $100-$115 million of adjusted EBITDA. Additionally, MTZ’s 2026 and 2027 EPS estimates imply 42% and 38.2% growth, respectively. Yet, Communications profitability remains weak and the first half of 2026 free cash flow was negative.

Primoris, meanwhile, has a $13.9 billion record backlog, including $8.2 billion of MSA backlog, supporting revenue visibility. Its 2027 EPS estimate implies a sharp 151.5% rebound. Although renewable-project cost overruns hurt margins and pushed the company into a quarterly operating loss, PRIM maintained its 2026 guidance and retains substantial liquidity.

Overall, Primoris stock appears better positioned on valuation, recent stock performance and earnings-recovery potential. PRIM stock’s Zacks Rank #3 (Hold) compared with MTZ stock’s Zacks Rank #4 (Sell) further supports the comparison, although execution risks remain significant.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MasTec benefits from surging data center and infrastructure investments, with total backlogs up 30% YoY and Clean Energy & Infrastructure up 58.2%. MTZ's consolidated book-to-bill ratio of 1.24x signals robust demand, while recurring revenues and multi-year contracts smooth out otherwise lumpy revenue streams. Pipeline Infrastructure drives margin expansion, with a 1.72x book-to-bill and 25% ROA, positioning MTZ for continued profitability as capital allocation shifts toward higher-return segments.

MTZ's $21.4B backlog and AI infrastructure exposure support growth, but weak cash flow, Communications segment softness and premium valuation pose risks.

Key Takeaways MasTec's second-quarter 2026 revenues rose 23% to $4.4B, while adjusted EPS surged 49% to $2.22.MasTec's backlog reached $21.4B, up nearly $5B year over year, driven by infrastructure demand.MTZ raised 2026 guidance to $18.2B in revenues, $1.6B adjusted EBITDA and $9.30 in EPS. MasTec, Inc. (MTZ - Free Report) is increasingly positioning itself at the intersection of Artificial Intelligence and America’s infrastructure buildout, creating a potentially powerful growth opportunity. The company’s second-quarter 2026 results highlight how demand tied to data centers, power generation and digital connectivity is strengthening its outlook.

MasTec reported record second-quarter 2026 revenues of $4.4 billion, up 23% year over year, while adjusted EBITDA jumped 40% to $384.2 million. Adjusted earnings per share (EPS) surged 49% to $2.22. More importantly, 18-month backlog reached a record $21.4 billion, up nearly $5 billion year over year and $1.1 billion sequentially. The Clean Energy & Infrastructure segment emerged as a key growth engine, with revenues soaring 43.4% and EBITDA climbing 53.9%. Its backlog increased 58% year over year, supported by renewable energy, power generation, water infrastructure and turnkey data center opportunities. Meanwhile, Power Delivery benefited from utility investments in transmission, grid reliability and infrastructure required to support data-center demand.

MasTec’s Pipeline Infrastructure business also gained momentum, with EBITDA nearly doubling and margins expanding 690 basis points to 18.4%. The company noted that mission-critical power generation is driving its pipeline opportunities, adding another avenue for AI-related infrastructure spending. The July acquisition of Superior further strengthens the thesis. The deal adds roughly 3,000 employees and expands MasTec’s capabilities in electrical contracting and data center infrastructure.

Management raised its 2026 outlook to $18.2 billion in revenues, $1.6 billion in adjusted EBITDA and $9.30 in adjusted EPS. With substantial backlog expected to contribute beyond 2026, MasTec appears increasingly equipped to capitalize on the long-term AI infrastructure cycle.

AI Infrastructure Faceoff: Can MasTec Beat EMCOR & Dycom?MasTec is well-positioned to benefit from the accelerating buildout of AI-powered infrastructure, alongside notable peers like EMCOR Group, Inc. (EME - Free Report) and Dycom Industries, Inc. (DY - Free Report) , but their exposure differs.

MTZ offers the broadest play, with a record $21.4 billion backlog and strong demand across power delivery, clean energy, data centers and pipeline infrastructure. Its Superior acquisition further expands electrical and data-center capabilities.

Meanwhile, EMCOR stands to benefit from rising demand for mission-critical electrical, mechanical and building systems as data centers require massive power and cooling investments. Dycom provides a more focused digital-infrastructure angle, benefiting from fiber deployments, data-center connectivity and electrical infrastructure. Its backlog and long-term customer relationships provide strong visibility, while acquisitions are expanding its data-center capabilities.

Overall, MasTec appears better diversified, EMCOR offers deep mission-critical expertise, while Dycom provides stronger exposure to AI-driven connectivity.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have inched up 9.4% year to date, outperforming the Zacks Building Products - Heavy Construction industry and the broader Zacks Construction sector, but underperforming the S&P 500 index.

Image Source: Zacks Investment Research

MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 20.44, as shown in the chart below.

Image Source: Zacks Investment Research

EPS Trend of MasTecMTZ’s earnings estimates for 2026 and 2027 have trended down over the past 30 days to $9.31 per share and $12.77 per share, respectively. However, the estimated figures for 2026 and 2027 imply 42.1% and 37.2% year-over-year growth, respectively.

Image Source: Zacks Investment Research

MasTec stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Algert Global LLC reduced its holdings in MasTec, Inc. (NYSE:MTZ – Free Report) by 81.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,799 shares of the construction company’s stock after selling 96,257 shares during the period. Algert Global LLC’s holdings in MasTec were worth $9,070,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in MasTec in the 2nd quarter worth approximately $3,178,069,000. Hill City Capital LP acquired a new position in shares of MasTec in the second quarter valued at $896,609,300,000. Victory Capital Management Inc. grew its stake in shares of MasTec by 178.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after purchasing an additional 1,690,896 shares during the period. Peconic Partners LLC boosted its position in MasTec by 113.3% in the fourth 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 in the last quarter. Finally, Coatue Management LLC acquired a new stake in shares of MasTec in the fourth quarter valued at $147,357,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 1.2% Shares of MTZ stock opened at $249.71 on Thursday. The firm has a market capitalization of $20.05 billion, a P/E ratio of 39.83 and a beta of 1.81. MasTec, Inc. has a twelve month low of $171.05 and a twelve month high of $441.43. The stock’s fifty day simple moving average is $330.30 and its 200 day simple moving average is $337.78. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71.

MasTec (NYSE:MTZ – Get Free Report) last announced its 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). 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%. The business’s revenue was up 23.4% on a year-over-year basis. During the same quarter 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. As a group, sell-side analysts predict that MasTec, Inc. will post 8.91 EPS for the current fiscal year. Analyst Upgrades and Downgrades A number of equities research analysts recently commented on the company. UBS Group decreased their price objective on MasTec from $453.00 to $410.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Zacks Research upgraded shares of MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. increased their price objective on MasTec from $471.00 to $491.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Roth Capital restated a “buy” rating and issued a $450.00 price objective on shares of MasTec in a research note on Monday, May 4th. Finally, CICC Research started coverage on MasTec in a research note on Thursday, May 21st. They issued an “outperform” rating and a $480.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, MasTec currently has a consensus rating of “Buy” and an average target price of $427.32.

View Our Latest Research Report on MasTec

Insider Buying and Selling at MasTec In related news, Director Ernst N. Csiszar sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the completion of the sale, the director owned 10,816 shares of the company’s stock, valued at $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 21.40% of the company’s stock.

MasTec Profile (Free Report)

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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MasTec: Superior Adds Another Growth Engine As Earnings Accelerate

On August 24, 2026, MasTec Inc
MTZ -4.09% 91

shares fell 4.1% to $255.36, reflecting a significant downturn in the stock's performance over recent weeks. The stock has seen a 52-week range with a high of $441.43 and a low of $171.05.

GF Value™ verdict: Current price is $255.36, which is 35.6% above the GF Value™ estimate of $188.31.GF Score™ of 91/100 indicates a strong overall performance, suggesting solid fundamentals.Insider activity shows that insiders sold $9.3M worth of shares over the past 12 months without any purchasing, indicating a lack of confidence from those within the company.Is MTZ Overvalued or Undervalued?MasTec Inc
MTZ -4.09% 91

is currently considered significantly overvalued according to the GF Value™ estimate. With the current price sitting at $255.36 and the GF Value™ pegged at $188.31, the stock is trading at a 35.6% premium to its intrinsic value. This suggests a concerning margin of safety for potential investors, as buying at such elevated levels may expose them to downside risk if the market adjusts to align with the intrinsic value.

GF Value™ represents GuruFocus' proprietary assessment of a company's intrinsic value, derived from various factors including historical trading multiples and estimates of future performance. The significant gap between MasTec’s market price and GF Value™ underscores the potential for a market correction, which could adversely affect those who invest at this level.

How Does MTZ's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)40.7x53.3xForward P/E27.4xN/ACurrently, MasTec’s P/E (TTM) of 40.7x is substantially below its 5-year median P/E of 53.3x, which suggests a relative decline in valuation from historical norms. This discrepancy aligns with the GF Value™ assessment indicating that the stock is overvalued. The forward P/E of 27.4x also suggests that the market may anticipate improved earnings in the future, yet the current valuation still appears stretched compared to historical averages.

What Does MTZ's GF Score™ Tell Us?The GF Score™ measures a company's overall financial health and growth potential based on several key factors including financial strength, profitability, growth, valuation, and momentum. With a strong GF Score™ of 91/100, MasTec showcases impressive fundamentals, particularly in growth rank, where it scores a perfect 10/10. However, its valuation rank is notably weaker at 5/10, indicating that while the company may possess strong growth prospects, its current market valuation does not reflect a favorable buying opportunity.

MetricRatingGF Score™91/100Financial Strength6/10Profitability8/10Growth10/10Valuation5/10Momentum9/10Overall, the scores reflect a company with strong growth potential and profitability but with a valuation that may not be justified at current prices. The growth rank of 10/10 indicates exceptional potential for earnings expansion, while the valuation rank of 5/10 suggests caution as the stock appears overvalued compared to its historical performance metrics.

What Are Gurus and Insiders Doing with MTZ?Currently, 10 gurus hold positions in MasTec, with 3 adding to their stakes and 8 trimming their positions in recent quarters. This mixed signal indicates that while some institutional investors see potential in MasTec, many others are reassessing their holdings. Such patterns can be influential, suggesting a cautious approach among knowledgeable market players.

Additionally, insider activity has shown that insiders sold $9.3M in shares over the past 12 months without any buying. This lack of insider buying could be interpreted as a lack of confidence from those closely associated with the company, which is often seen as a red flag for potential investors.

What This Means for InvestorsIn conclusion, MasTec Inc
MTZ -4.09% 91

is currently viewed as overvalued according to the GF Value™ assessment, with a significant gap between its market price and intrinsic value. This situation, coupled with recent insider selling and mixed signals from institutional investors, suggests that potential investors should exercise caution. For more details on MasTec Inc, visit the MasTec Inc (MTZ) stock page, and explore the GF Value™ page for a deeper analysis.

Frequently Asked QuestionsWhat is MTZ's GF Score™?

MasTec has a GF Score™ of 91/100, indicating a strong overall performance based on various financial metrics.

Is MTZ overvalued or undervalued?

MTZ is considered overvalued according to the GF Value™ estimate, which shows the stock trading 35.6% above its intrinsic value.

What is MTZ's P/E ratio?

The current P/E ratio for MTZ is 40.7x, which is significantly below its 5-year median P/E of 53.3x, suggesting a shift in market valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Key Takeaways MasTec's Superior deal expands its data center reach with added electrical and skilled-workforce capabilities.Superior can pair with MasTec's power, civil, telecom and construction management services on larger projects.Most of MasTec's recent $2.5 billion backlog growth is expected to benefit 2027 rather than 2026. MasTec, Inc. (MTZ - Free Report) is expanding its exposure to the fast-growing data center market through its acquisition of The Superior Group, adding electrical expertise to an infrastructure platform already spanning power, civil construction, telecom and maintenance.

Superior, acquired in July, is a full-service electrical contractor with roughly 3,000 employees and a strong position in data center infrastructure. Management believes combining Superior’s electrical capabilities with MasTec’s broader services can provide customers with more integrated solutions, improving speed, quality and execution certainty.

The deal also creates cross-selling opportunities. MasTec expects to pair Superior’s capabilities with its construction management, civil, power and telecom operations, allowing it to participate across more stages of mission-critical projects. Its existing turnkey data center project is progressing well, while the company is pursuing several large opportunities and expects additional awards in 2026.

Importantly, data center growth can benefit multiple MasTec businesses. Power Delivery is seeing rising demand tied to the power requirements of data center development, while Communications is pursuing billions of dollars of hyperscaler connectivity opportunities. Superior adds another important piece by strengthening MasTec’s electrical infrastructure capabilities and expanding its skilled workforce.

The financial impact could become more visible in 2027. MasTec recorded nearly $2.5 billion of backlog growth over the past two quarters, but only a modest portion is expected to contribute to 2026 revenues, with most benefiting 2027. Management believes Superior and its turnkey data center capabilities have fundamentally expanded MasTec’s mission-critical position.

Superior gives MasTec a broader way to capture the AI-driven data center infrastructure buildout rather than relying on a single construction specialty.

MasTec Faces Strong Data Center CompetitionMasTec’s expanding data center position puts it against established infrastructure players such as Quanta Services (PWR - Free Report) and EMCOR Group (EME - Free Report) , both of which are benefiting from rising AI-related infrastructure investment.

Quanta Services is a particularly strong competitor because its capabilities span the power infrastructure needed to support large data centers. Quanta Services provides solutions covering high-voltage transmission, substations and grid interconnections as well as electrical infrastructure inside data centers. Rising AI workloads and power requirements are expanding Quanta Services’ addressable market, making it a major competitor as MasTec combines Superior’s electrical expertise with its existing power and construction capabilities.

EMCOR Group also represents a meaningful competitive threat. EMCOR Group has significant exposure to data centers and high-tech facilities, supported by its electrical and mechanical construction capabilities. EMCOR Group’s established presence in complex facilities overlaps directly with the opportunity MasTec is targeting through Superior. Still, Superior strengthens MasTec’s ability to compete by adding electrical expertise to its broader power, telecom, civil and construction-management platform.

MTZ Stock’s Price Performance, Valuation & Estimate TrendShares of this Florida-based infrastructure construction company have gained 23.7% year to date, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 Index.

MTZ Price Performance (YTD)

Image Source: Zacks Investment Research

MTZ stock is currently trading at a premium compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 23.78, as shown in the chart below.

MTZ Valuation (P/E F12M)

Image Source: Zacks Investment Research

MTZ's earnings estimates for 2026 have moved upward in the past 30 days to $9.31 per share, but the same for 2027 moved down to $12.77 per share. The revised estimates for 2026 and 2027 imply a year-over-year surge of 42.1% and 37.2%, respectively.

Image Source: Zacks Investment Research

MasTec currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Fielder Capital Group LLC purchased a new stake in MasTec, Inc. (NYSE: MTZ) during the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,038 shares of the construction company's stock, valued at approximately $848,000. Other hedge funds and other institutional investors

Key Takeaways MTZ gained 25.9% YTD as record backlog, improving margins and infrastructure demand fueled momentum.MasTec raised 2026 guidance to $18.2B in revenues, $1.6B EBITDA and adjusted EPS of $9.30.Communications weakness, negative Q2 free cash flow and higher debt temper MasTec's growth story. MasTec, Inc. (MTZ - Free Report) has delivered a strong run in 2026, with shares gaining 25.9% year to date. The stock has outperformed the Zacks Building Products - Heavy Construction industry’s 21.8% rise, the Zacks Construction sector’s 11.9% gain and the S&P 500 Index’s 13.1% advance.

MTZ Price Performance (YTD)

Image Source: Zacks Investment Research

The rally has been supported by improving earnings, record backlog and strong infrastructure spending across power, clean energy, pipelines and mission-critical projects. However, with the stock already reflecting part of this growth and Communications facing near-term weakness, investors need to assess whether the current level still offers enough upside.

Record Q2 Results Strengthen MTZ’s Growth CaseMasTec’s second-quarter performance provides solid support for the stock’s YTD advance. Revenues increased 23.4% year over year to a quarterly record of $4.37 billion. Adjusted EBITDA climbed 39.8% to $384 million, while adjusted EBITDA margin expanded 100 basis points (bps) to 8.8%. Adjusted earnings per share (EPS) rose 48.8% to a second-quarter record of $2.22.

Importantly, growth was broad outside Communications. Clean Energy and Infrastructure revenues surged 43.4%, with EBITDA rising 53.9%. Power Delivery revenues advanced 19.2% and EBITDA increased 23.7%. Pipeline Infrastructure was another standout, with revenues rising 19.1% and EBITDA jumping 91%, lifting its EBITDA margin 690 bps to 18.4%.

This mix shows that MasTec is becoming less dependent on any single infrastructure market, which could make earnings growth more consistent.

MTZ’s Record Backlog Provides Strong Revenue VisibilityMasTec ended the quarter with a record 18-month backlog of $21.4 billion, up 30% year over year and about 5% sequentially. The company also reported a roughly 1.2X book-to-bill ratio.

Clean Energy and Infrastructure has been a major contributor. The earnings presentation shows that its backlog reached $7.8 billion, rising about $2.9 billion year over year. Power Delivery backlog also reached a record level of about $6.3 billion.

This backlog matters because the demand drivers extend beyond 2026. MasTec is seeing spending tied to grid modernization, power generation, data centers, industrial infrastructure and natural gas infrastructure. Management also noted that the pace of project bids, negotiations and longer-term development remains very strong, with large project pursuits increasing during the second quarter.

AI, Power Demand and Superior Expand MasTec’s OpportunityThe acquisition of The Superior Group adds another growth engine. Superior brings roughly 3,000 employees and strong capabilities in electrical construction for data centers, while also serving healthcare, entertainment and industrial markets. The combination should allow MasTec to offer customers a broader range of integrated infrastructure services.

The deal fits directly into MasTec’s mission-critical strategy. AI and data-center expansion require power generation, grid connections, substations, electrical infrastructure, pipelines, fiber and other construction services — areas where MasTec has meaningful capabilities.

Power Delivery is already benefiting from grid modernization, electrification, system reliability spending and rising electricity needs from data centers. Meanwhile, Clean Energy and Infrastructure is seeing strong renewable demand, greater power-generation opportunities and progress on a turnkey data-center project.

Management believes its mission-critical exposure is still at an early stage, suggesting that this growth theme could extend well beyond the current year.

Raised 2026 Outlook & Estimate Revisions Support MomentumStrong execution and the addition of Superior prompted MasTec to increase its 2026 outlook. Management now expects revenues of $18.2 billion, adjusted EBITDA of $1.6 billion and adjusted EPS of $9.30, representing growth of 27%, 39% and 42%, respectively. The earnings presentation also calls for third-quarter revenues of $4.93 billion, adjusted EBITDA of $482 million and adjusted EPS of $2.98.

The estimate trend is equally encouraging. Over the past 30 days, the Zacks Consensus Estimate for 2026 EPS has increased to $9.31 from $9.05, implying 42.1% growth. The 2027 estimate has risen to $12.67 from $12.43, suggesting another 36.1% increase. Revenues are expected to grow 27% in 2026 and 17.2% in 2027.

MTZ EPS Estimate Revision Trend

Image Source: Zacks Investment Research

MTZ EPS Estimate Revision TrendCommunications Weakness Remains a Key Concern The outlook is not strong across every business. Communications is the clearest weak spot. Second-quarter Communications revenues increased 6.2% to $888.9 million, but EBITDA declined 11.6% to $73.1 million and margin contracted 170 basis points to 8.2%.

MasTec has reduced its Communications expectations for the remainder of 2026. Management expects lower wireless revenues during the second half as the industry waits for equipment needed for the next spectrum deployment cycle. Wireline is also being affected by RDOF work rolling off and delayed starts for replacement projects.

Execution issues on certain projects and higher indirect fuel and equipment expenses have added pressure. MasTec now expects full-year Communications revenues of about $3.25 billion and EBITDA margins in the high single digits, roughly 100 basis points below the prior year.

Cash Flow and Acquisition-Related Leverage Need WatchingMasTec’s rapid expansion also comes with balance-sheet considerations. Long-term debt, including finance leases, stood at $2.57 billion as of June 30, 2026, up from $2.18 billion at 2025-end. Cash and cash equivalents declined to $315.6 million from $396 million over the same period. First-half operating cash flow improved to $120.3 million from $84 million a year earlier.
Yet second-quarter free cash flow remained negative at $59 million compared with negative $45 million a year earlier.

There is reason for improvement: MasTec expects 2026 operating cash flow to exceed $1 billion and year-end leverage to remain below 2X. Still, execution on cash conversion and leverage following the Superior acquisition warrants attention.

Valuation Suggests Investors Should Not Ignore the PriceMasTec currently trades at 24X forward 12-month earnings, above the industry’s 21.62X. However, the valuation is almost in line with MTZ’s five-year median of 23.91X.

MTZ Valuation (P/E F12M)

Image Source: Zacks Investment Research

That makes the stock neither clearly cheap nor excessively expensive relative to its own history. The premium to the industry appears partly justified by strong EPS growth, record backlog and rising exposure to AI-related infrastructure. Still, after a 25.9% YTD gain, further multiple expansion may be harder to achieve unless MasTec continues raising earnings expectations.

Analyst sentiment remains very positive. All 20 recommendations contributing to MTZ’s Average Brokerage Recommendation rate the stock a Strong Buy, resulting in an ABR of 1.00. The average Wall Street price target of $444 implies substantial upside from the latest closing price.

Image Source: Zacks Investment Research

MasTec Versus Key Infrastructure PeersMasTec operates across several infrastructure markets, making Quanta Services, Inc. (PWR - Free Report) , EMCOR Group, Inc. (EME - Free Report) and MYR Group Inc. (MYRG - Free Report) relevant peers. Quanta Services shares have surged 59.2% YTD, MYR Group has gained 54.4% and EMCOR has rallied 33.5%, meaning all three have outpaced MasTec’s 25.9% gain.

Valuation provides a more mixed picture. Quanta Services trades at 38.06X forward 12-month earnings, well above MasTec’s 24X multiple. MYR Group trades at 26.43X, while EMCOR trades at 24.11X.

Thus, MasTec is substantially cheaper than Quanta Services and modestly cheaper than MYR Group, while trading almost in line with EMCOR. Quanta Services benefits from strong electric-power and grid investment, EMCOR has major exposure to data centers and high-tech facilities, and MYR Group is closely tied to transmission and distribution spending. MasTec’s broader exposure to clean energy, pipelines, communications and mission-critical construction offers diversification against these peers.

Is MasTec’s Rally Still Worth Chasing?MasTec entered the second half of 2026 with several strong cards — record backlog, improving margins, rising earnings estimates, strong power and clean-energy markets and greater exposure to data-center and mission-critical investment through Superior. These factors provide a solid base for growth into 2027.

However, the 25.9% YTD rally has already rewarded investors for part of that improvement. Communications weakness, negative second-quarter free cash flow, higher debt following expansion and a valuation premium to the industry argue against aggressively chasing the stock at current levels.

With MasTec carrying a Zacks Rank #3 (Hold), existing investors may have enough fundamental support to stay invested, while new investors could consider waiting for a better entry point. The long-term infrastructure story remains attractive, but the current risk-reward profile supports patience rather than chasing the rally. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Investors in MasTec, Inc. (MTZ - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug. 21, 2026 $200.00 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for MasTec shares, but what is the fundamental picture for the company? Currently, MasTec is a Zacks Rank #3 (Hold) in the Building Products - Heavy Construction industry that ranks in the Top 44% of our Zacks Industry Rank. Over the last 60 days, four analysts have increased their earnings estimates for the current quarter, while one has dropped the estimate. The net effect has taken our Zacks Consensus Estimate for the current quarter from $2.78 per share to $2.95 in that period.

Given the way analysts feel about MasTec right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

Key Takeaways MTZ raised 2026 guidance to $18.2B revenues, $1.6B adjusted EBITDA and $9.30 adjusted EPS.MTZ's 18-month backlog reached a record $21.4B, up 30% year over year.MTZ said the Superior acquisition expands data center capabilities and mission-critical reach. MasTec’s (MTZ - Free Report) second-quarter earnings call centered on management’s view that the company is entering a prolonged infrastructure investment cycle driven by data centers, power demand, grid modernization and energy infrastructure needs.

Executives highlighted record backlog growth, the acquisition of The Superior Group and expanding exposure to mission-critical infrastructure markets as key factors shaping the company’s long-term outlook.

MasTec reported adjusted earnings per share of $2.22, which surpassed the Zacks Consensus Estimate of $2.19. Revenues totaled $4.37 billion, also exceeding the Zacks Consensus Estimate of $4.30 billion.

MasTec Sees Early Stages of Infrastructure CycleChief executive officer Jose Mas said the company believes it is in the early stages of a major infrastructure investment cycle supported by artificial intelligence, data centers, grid reliability, energy demand and connectivity spending.

He emphasized that these trends are creating long-term opportunities across multiple business segments and strengthening customer demand.

Management also noted that the company’s visibility extends beyond its reported backlog, particularly in mission-critical infrastructure markets.

MTZ Raises Full-Year 2026 GuidanceManagement increased its 2026 financial outlook after delivering record second-quarter results and completing the acquisition of The Superior Group.

MasTec now expects full-year revenues of $18.2 billion, adjusted EBITDA of $1.6 billion and adjusted diluted earnings per share of $9.30.

Executives said the updated forecast reflects strong execution, favorable demand trends and growing contributions from large infrastructure projects.

Superior Acquisition Expands Data Center ReachMas highlighted the recent acquisition of The Superior Group as a significant strategic development.

The company described Superior as a leading North American electrical contractor with approximately 3,000 employees and strong expertise in data center infrastructure.

Management said the transaction broadens MasTec’s service offerings and enhances its ability to deliver integrated infrastructure solutions for customers across several end markets.

MTZ Backlog Climbs to Record LevelsMasTec ended the quarter with a record 18-month backlog of $21.4 billion, representing a 30% increase from the prior year and a sequential increase from the first quarter.

Management pointed to significant growth in the Clean Energy and Infrastructure segment as a major contributor to backlog expansion.

Executives also emphasized that a substantial portion of recent backlog additions is expected to support future periods rather than contribute materially to 2026 revenue.

Communications Segment Faces Near-Term PressureDuring the call, management addressed questions regarding the Communications segment, where revenue grew modestly while profitability declined year over year.

Executives attributed the softer environment primarily to project timing and customer spending patterns rather than a deterioration in underlying demand.

Management maintained that long-term communications infrastructure investment remains supported by network upgrades and connectivity requirements.

Power and Energy Markets Drive GrowthChief Financial Officer Paul DiMarco highlighted strong execution in Power Delivery, where revenue increased to approximately $1.25 billion and EBITDA margins exceeded 9%.

Management also pointed to growing demand for natural gas infrastructure as customers commit to future energy needs tied to power generation and data center development.

The company said current pipeline constraints and increasing energy demand are improving long-term prospects for the Pipeline Infrastructure business.

MTZ Focuses on Mission-Critical InfrastructureExecutives repeatedly emphasized the company’s growing exposure to mission-critical infrastructure opportunities.

Management noted that the combination of Superior and prior data center awards has expanded MasTec’s position in this market and strengthened future growth potential.

The company also indicated that only a modest portion of recent mission-critical project wins contributes to 2026 revenue, leaving a larger contribution expected in future years.

Management Emphasizes Execution and VisibilityThe overarching theme of the call was management’s confidence in the durability of infrastructure demand across its end markets.

Executives pointed to record revenue, profitability and backlog levels as evidence of strong execution across the business.

Management believes the company is well positioned to benefit from sustained investment in power, energy, connectivity and data center infrastructure over the coming years.

Zacks Rank and Style ScoresMTZ currently carries a Zacks Rank #3 (Hold). Under the Zacks methodology, earnings estimate revisions remain the primary factor influencing the ranking system and are considered a key driver of stock performance. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock also holds a Growth Score of A, reflecting its strong growth characteristics. In addition, MTZ has a VGM Score of A, a composite metric that combines Value, Growth and Momentum factors into a single score designed to identify stocks with balanced investment attributes.

According to Zacks, Style Scores are intended to complement the Zacks Rank rather than replace it. Investors often use Growth, Value, Momentum and VGM scores alongside the Zacks Rank when evaluating investment opportunities.

MasTec, Inc. (MTZ) Q2 2026 Earnings Call Transcript

For the quarter ended June 2026, MasTec (MTZ - Free Report) reported revenue of $4.37 billion, up 23.4% over the same period last year. EPS came in at $2.22, compared to $1.49 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $4.3 billion, representing a surprise of +1.81%. The company delivered an EPS surprise of +1.37%, with the consensus EPS estimate being $2.19.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how MasTec performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Backlog: $21.39 billion versus the two-analyst average estimate of $20.52 billion.Revenue- Pipeline Infrastructure: $642.8 million versus the three-analyst average estimate of $597.59 million.Revenue- Communications: $888.9 million versus $875.25 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.2% change.Revenue- Power Delivery: $1.25 billion compared to the $1.17 billion average estimate based on three analysts. The reported number represents a change of +19.2% year over year.Revenue- Clean Energy and Infrastructure: $1.62 billion compared to the $1.67 billion average estimate based on three analysts. The reported number represents a change of +43.4% year over year.Revenue- Eliminations: $-26 million versus $-19.6 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +192.1% change.Adjusted EBITDA- Communications: $73.1 million versus the two-analyst average estimate of $94.09 million.Adjusted EBITDA- Power Delivery: $113 million versus the two-analyst average estimate of $104.69 million.Adjusted EBITDA- Pipeline Infrastructure: $118.5 million compared to the $102.83 million average estimate based on two analysts.Adjusted EBITDA- Other: $13.6 million versus $7 million estimated by two analysts on average.Adjusted EBITDA- Clean Energy and Infrastructure: $128.2 million compared to the $129.78 million average estimate based on two analysts.View all Key Company Metrics for MasTec here>>>

Shares of MasTec have returned -26.4% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) today announced that Mr. Alex Spiro has joined MasTec's Board of Directors as a Class III Director.Mr. Spiro has spent more than a decade advising Fortune 500 companies and their chief executives on high-priority matters, including regulatory investigations, corporate governance, securities issues, complex litigation and strategic business transactions.Beyond his legal practice, Mr. Spiro is an active investor, advisor and public comp.

The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has MasTec (MTZ - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.

MasTec is a member of the Construction sector. This group includes 92 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MasTec is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for MTZ's full-year earnings has moved 11.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, MTZ has moved about 43.7% on a year-to-date basis. Meanwhile, the Construction sector has returned an average of 8.3% on a year-to-date basis. This means that MasTec is performing better than its sector in terms of year-to-date returns.

Boise Cascade (BCC - Free Report) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 9.2%.

In Boise Cascade's case, the consensus EPS estimate for the current year increased 0.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, MasTec belongs to the Building Products - Heavy Construction industry, which includes 9 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 17.3% so far this year, so MTZ is performing better in this area.

In contrast, Boise Cascade falls under the Building Products - Wood industry. Currently, this industry has 9 stocks and is ranked #160. Since the beginning of the year, the industry has moved +7.4%.

MasTec and Boise Cascade could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.

Key Takeaways MasTec is expected to report second-quarter revenue growth driven by diversified end-market demand.MTZ is likely to benefit from fiber, data center, grid modernization and natural gas infrastructure activity.MasTec's second-quarter margins are expected to benefit from improved execution despite ongoing investments. MasTec, Inc. (MTZ - Free Report) is scheduled to report second-quarter 2026 results on July 30, after the closing bell.

In the last reported quarter, its earnings and revenues surpassed the Zacks Consensus Estimate by 41.8% and 10.3%, respectively. Also, on a year-over-year basis, both metrics grew 174.1% and 34.5%, respectively.

This leading infrastructure construction company’s earnings beat estimates in each of the trailing four quarters, with an average surprise of 15.4%.

MTZ’s Q2 Earnings & Revenue ExpectationsThe Zacks Consensus Estimate for MTZ’s second-quarter earnings has remained stable at $2.19 per share in the past 30 days. The estimated figure indicates a 47% increase on a year-over-year basis.

The consensus estimate for revenues is pegged at $4.30 billion, indicating a 21.2% year-over-year rise.

Factors Likely to Shape MasTec’s Quarterly ResultsRevenuesMasTec is likely to deliver year-over-year revenue growth in the second quarter, supported by broad-based organic expansion, solid execution and favorable demand trends across its diversified end markets. Growth is expected to have been driven by strong communications infrastructure spending, particularly broadband deployment, fiber expansion and data center interconnectivity investments, alongside sustained activity in renewables, grid modernization and natural gas infrastructure construction.

The diversified operating model of MasTec is expected to have been a core strength in the second quarter. The Communications segment (contributed 20.9% to the first quarter of 2026 revenues) is likely to have benefited from sustained wireline demand, expanding fiber deployments, growing data center interconnectivity projects and multiyear turnkey opportunities with telecom customers. Meanwhile, the Clean Energy & Infrastructure segment (contributed 34.7% to the first quarter of 2026 revenues) is expected to have been supported by strong renewable activity, growing industrial and civil infrastructure projects, mission-critical general building work, increasing data center construction activity and disciplined project execution.

The Power Delivery segment (contributed 27.3% to the first quarter of 2026 revenues) is positioned to have capitalized on sustained transmission, substation and distribution investments driven by grid reliability needs, increasing electricity demand and AI-led infrastructure expansion. Likewise, the Pipeline Infrastructure segment (contributed 17.8% to the first quarter of 2026 revenues) is expected to have benefited from growing natural gas infrastructure demand, rising LNG-related investments, firm customer commitments and improving visibility into future project awards, factors that are likely to have supported the segment's performance in the to-be-reported quarter.

For the Power Delivery unit, revenues are currently pegged at $1.17 billion, up from $1.05 billion reported a year ago. The Zacks Consensus Estimate for the Communications segment revenues is currently pegged at $875 million compared with $836.9 million reported a year ago.

Additionally, the Pipeline Infrastructure unit's revenues are currently pegged at $598 million, up from $539.7 million reported a year ago.

The Clean Energy & Infrastructure segment is also expected to remain a key growth driver, with second-quarter revenues currently pegged at $1.68 billion compared with $1.13 billion reported a year ago.

MarginsOn the margins front, the bottom-line performance in the second quarter is likely to represent growth from the prior year, supported by higher volumes, improved project execution, operating leverage, productivity initiatives and disciplined cost management. Better execution across major projects and favorable operating leverage are also expected to have supported margin expansion in the to-be-reported quarter.

However, margins might have faced modest headwinds from a higher mix of general building activity within the Clean Energy & Infrastructure segment, ongoing investments in expanding Communications capabilities across new markets, and normal ramp-up costs on large infrastructure projects. These factors might have partially offset the benefits of stronger execution and higher operating leverage in the to-be-reported quarter.

The Zacks Consensus Estimate for adjusted EBITDA in the Clean Energy and Infrastructure segment is currently pegged at $130 million compared with $83.3 million reported in the prior-year quarter. The Communications segment is projected to generate adjusted EBITDA of $94 million, up from $82.6 million a year ago.

For the Power Delivery and Pipeline Infrastructure segments, adjusted EBITDA is estimated at $105 million and $103 million, respectively, representing increases from $91.3 million and $62.1 million reported in the prior-year quarter.

BacklogFor backlog, the consensus mark is currently pegged at $20.52 billion compared with $16.45 billion reported a year ago.

The Zacks Consensus Estimate for backlog in the Clean Energy and Infrastructure segment is currently pegged at $7.28 billion compared with $4.92 billion reported in the prior-year quarter. The Communications segment is projected to report a backlog of $5.5 billion, up from $5 billion a year ago.

For the Power Delivery and Pipeline Infrastructure segments, backlog is estimated at $6.34 billion and $1.45 billion, respectively, representing an increase from $5.06 billion and a decrease from $1.46 billion reported in the prior-year quarter.

What Our Model Unveils for MTZ StockOur proven model does not conclusively predict a beat for MasTec this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.

MTZ’s Earnings ESP: The company currently has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

MTZ’s Zacks Rank: The stock currently has a Zacks Rank of 1.

Stocks With the Favorable CombinationHere are some companies in the Zacks Construction sector that, according to our model, have the right combination of elements to post an earnings beat in the quarter to be reported.

Boise Cascade Company (BCC - Free Report) has an Earnings ESP of +6.50% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Boise Cascade’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 40.8%. The company’s earnings for the second quarter of 2026 are expected to decline 25% year over year.

Amentum Holdings, Inc. (AMTM - Free Report) currently has an Earnings ESP of +3.18% and a Zacks Rank of 2.

The company's earnings beat estimates in each of the last four quarters, the average surprise being 4%. Amentum’s earnings for the second quarter of 2026 are expected to increase 12.5% year over year.

CRH plc (CRH - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank of 3.

The company's earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 0.7%. CRH’s earnings for the second quarter of 2026 are expected to inch up 1% year over year.

Posted by Defense World Staff on Jul 23rd, 2026

Allspring Global Investments Holdings LLC cut its holdings in MasTec, Inc. (NYSE:MTZ – Free Report) by 36.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,203 shares of the construction company’s stock after selling 18,672 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MasTec were worth $11,083,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of 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 buying an additional 1,690,896 shares during the last quarter. Peconic Partners LLC boosted its stake in shares of MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock worth $347,792,000 after acquiring an additional 850,000 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of MasTec by 28.3% during the 4th quarter. First Trust Advisors LP now owns 1,311,433 shares of the construction company’s stock valued at $285,066,000 after acquiring an additional 289,258 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MasTec by 8.4% during 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. Finally, AQR Capital Management LLC raised its stake in shares of MasTec by 11.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock valued at $181,961,000 after acquiring an additional 108,504 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity In related news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ernst N. Csiszar sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the transaction, the director directly owned 10,816 shares of the company’s stock, valued at approximately $4,014,574.72. This trade represents a 37.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 21.40% of the company’s stock.

MasTec Stock Performance Shares of NYSE MTZ opened at $357.14 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $376.65 and its two-hundred day moving average is $329.53. The company has a market cap of $28.22 billion, a P/E ratio of 62.55 and a beta of 1.77. MasTec, Inc. has a 12 month low of $160.08 and a 12 month high of $441.43.

MasTec (NYSE:MTZ – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the company earned $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. On average, equities analysts expect that MasTec, Inc. will post 9.18 EPS for the current year.

Analysts Set New Price Targets Several research firms recently weighed in on MTZ. Jefferies Financial Group restated a “buy” rating and issued a $493.00 target price on shares of MasTec in a report on Monday, May 4th. Stifel Nicolaus set a $455.00 price target on MasTec in a report on Monday, May 4th. Guggenheim lifted their price target on shares of MasTec from $480.00 to $518.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial boosted their price objective on shares of MasTec from $518.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of MasTec in a report on Monday, May 4th. Nineteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $466.89.

Get Our Latest Stock Report on MasTec

MasTec Profile (Free Report)

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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CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) today announced that it has closed its previously announced acquisition of Electrical Specialists, Inc., d/b/a The Superior Group (“Superior”), a premier full-service electrical contractor focused on critical infrastructure, in a cash and stock transaction valued at approximately $1.65 billion, subject to customary purchase price adjustments and a potential cash earnout payment based on Superior’s post-closing performance (the “Transaction”). The cash portion of the purchase price was funded with cash on hand, drawings under MasTec’s existing credit facility and drawings under two previously disclosed delayed draw term loan facilities entered into in connection with the Transaction.

Jose Mas, MasTec's Chief Executive Officer, commented, “We are pleased to officially welcome Bryan Stewart and the approximately 3,000 Superior team members to the MasTec family. We believe that the addition of Superior and its experienced leadership team, coupled with MasTec's existing operations, positions MasTec to serve the compelling and ongoing buildout of data center, power and mission-critical infrastructure, both outside and inside the fence.”

Mr. Mas continued, “This acquisition further advances MasTec’s strategy of building a scaled infrastructure capacity platform that is positioned to serve accelerating demand for data center, power and other mission-critical infrastructure through a transaction that demonstrates our commitment to disciplined capital allocation.”

About MasTec

MasTec, Inc. is a leading North American infrastructure engineering and construction company focused primarily on engineering, building, installation, maintenance and upgrade of communications, energy and utility and other infrastructure. MasTec primarily operates under four business segments including Communications, serving both wireless and wireline/fiber infrastructure; Power Delivery, serving primarily utility customers in transmission and distribution markets; Pipeline Infrastructure serving energy and other customers with installation and maintenance services primarily for natural gas pipeline and distribution infrastructure; and Clean Energy and Infrastructure, providing renewable energy engineering and construction services, as well as for heavy civil and other industrial infrastructure markets. Learn more at www.mastec.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements include, but are not limited to, statements relating to expectations regarding the future financial and operational performance of MasTec or Superior; expectations regarding the projected impact and benefits of Superior on MasTec's operating or financial results; expectations regarding MasTec's or Superior’s business or financial outlook; expectations regarding MasTec's plans, strategies and opportunities; expectations regarding opportunities, technological developments, competitive positioning, future economic conditions and other trends in particular markets or industries; the potential strategic benefits and synergies expected from the acquisition of Superior; MasTec's ability to successfully integrate the operations of Superior; the impact of inflation on MasTec's costs and the ability to recover increased costs, as well as other statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. These statements are based on currently available operating, financial, economic and other information, and are subject to a number of significant risks and uncertainties. A variety of factors in addition to those mentioned above, many of which are beyond our control, could cause actual future results to differ materially from those projected in the forward-looking statements. Other factors that might cause such a difference include, but are not limited to: our ability to manage projects effectively and in accordance with our estimates, as well as our ability to accurately estimate the costs associated with our fixed price and other contracts, including any material changes in estimates for completion of projects and estimates of the recoverability of change orders; market conditions, including rising or elevated levels of inflation or interest rates, regulatory or policy changes, including permitting processes, tax incentives and government funding programs that affect us or our customers' industries, access to capital, material and labor costs, supply chain issues and technological developments, all of which may affect demand for our services; changes to governmental programs and spending policies, changes to the amounts provided for under the Infrastructure Investment and Jobs Act and/or Inflation Reduction Act, including the potential for reduced support for renewable energy projects, such as a result of the One Big Beautiful Bill Act, or changes in U.S. or foreign tax laws, statutes, rules, regulations or ordinances; tariff and trade actions, including retaliatory trade actions, by the United States (U.S.) and/or other countries on U.S. exports or bans by foreign countries on certain of their exports; project delays due to permitting processes, compliance with environmental and other regulatory requirements and challenges to the granting of project permits, which could cause increased costs and delayed or reduced revenue; the effect on demand for our services of changes in the amount of capital expenditures by our customers due to, among other things, economic conditions, including potential economic downturns, inflationary issues, tariff effects, the availability and cost of financing, supply chain disruptions, climate-related matters, customer consolidation in the industries we serve and/or the effects of public health matters; activity in the industries we serve and the impact on the expenditure levels of our customers of, among other items, fluctuations in commodity prices, including for fuel and energy sources, fluctuations in the cost of materials, labor, supplies or equipment, and/or supply-related issues that affect availability or cause delays for such items; the outcome of our plans for future operations, growth and services, including business development efforts, backlog, acquisitions and dispositions; risks related to completed or potential acquisitions, including our ability to integrate acquired businesses within expected timeframes, including their business operations, internal controls and/or systems, which may be found to have material weaknesses, and our ability to achieve the revenue, cost savings and earnings levels from such acquisitions at or above the levels projected, as well as the risk of potential asset impairment charges and write-downs of goodwill; our ability to attract and retain qualified personnel, key management and skilled employees, including from acquired businesses, our ability to enforce any noncompetition agreements, and our ability to maintain a workforce based upon current and anticipated workloads; any material changes in estimates for legal costs or case settlements or adverse determinations on any claim, lawsuit or proceeding; the adequacy of our insurance, legal and other reserves; adverse climate and weather events, such as the risk of wildfires, that increase operational and legal risks in certain locations where we perform services, could increase the potential liability and related costs associated with such operations; the highly competitive nature of our industry and the ability of our customers, including our largest customers, to terminate or reduce the amount of work, or in some cases, the prices paid for services, on short or no notice under our contracts, and/or customer disputes related to our performance of services and the resolution of unapproved change orders; the effect of regulatory initiatives, including risks related to and the costs of compliance with existing and potential future sustainability requirements, including with respect to climate-related matters; the timing and extent of fluctuations in operational, geographic and weather factors, including from climate-related events, that affect our customers, projects and the industries in which we operate; requirements of and restrictions imposed by our credit facility, term loans, senior notes and any future loans or securities; systems and information technology interruptions and/or data security breaches that could adversely affect our ability to operate, our operating results, our data security or our reputation, or other cybersecurity-related matters; our dependence on a limited number of customers and our ability to replace non-recurring projects with new projects; risks associated with potential environmental issues and other hazards from our operations; disputes with, or failures of, our subcontractors to deliver agreed-upon supplies or services in a timely fashion, and the risk of being required to pay our subcontractors even if our customers do not pay us; risks related to our strategic arrangements, including our equity investments; risks associated with volatility of our stock price or any dilution or stock price volatility that shareholders may experience, including as a result of shares we may issue as purchase consideration in connection with acquisitions, or as a result of other stock issuances; our ability to obtain performance and surety bonds; risks associated with operating in or expanding into additional international markets, including risks from increased tariffs, fluctuations in foreign currencies, foreign labor and general business conditions and risks from failure to comply with laws applicable to our foreign activities and/or governmental policy uncertainty; risks related to our operations that employ a unionized workforce, including labor availability, productivity and relations, as well as risks associated with multiemployer union pension plans, including underfunding and withdrawal liabilities; risks associated with our internal controls over financial reporting; risks related to a small number of our existing shareholders having the ability to influence major corporate decisions, as well as other risks detailed in our filings with the Securities and Exchange Commission. We believe these forward-looking statements are reasonable; however, you should not place undue reliance on any forward-looking statements, which are based on current expectations. Furthermore, forward-looking statements speak only as of the date they are made. If any of these risks or uncertainties materialize, or if any of our underlying assumptions are incorrect, our actual results may differ significantly from the results that we express in, or imply by, any of our forward-looking statements. These and other risks are detailed in our filings with the Securities and Exchange Commission. We do not undertake any obligation to publicly update or revise these forward-looking statements after the date of this press release to reflect future events or circumstances, except as required by applicable law. We qualify any and all of our forward-looking statements by these cautionary factors.

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