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On September 08, 2026, MasTec Inc MTZ shares rose 3.8% to a current price of $246.18, reflecting a notable increase amid a 52-week trading range of $171.05 to $441.43. This recent uptick comes after a month where shares have declined by 9.7%, yet the year-to-date performance remains strong at +13.2% and a significant +39.3% over the past year.

GF Value™ verdict: Currently priced at $246.18, the stock is estimated to be 29.4% overvalued compared to the GF Value™ of $190.19.GF Score™ of 90/100 indicates a strong overall performance based on multiple value indicators.Notable signal: Insider selling reached $9.3 million over the past 12 months with no buying activity.Is MTZ Overvalued or Undervalued?According to the GF Value™, MasTec Inc MTZ is currently overvalued, with a market price significantly exceeding its intrinsic value estimate of $190.19. This indicates a margin of safety that is effectively nonexistent, leaving little room for error in the event of any unforeseen market changes. The GF Valuation label classifies MTZ as "Modestly Overvalued," highlighting the potential risks associated with investing at this price point. While the company has shown strong growth in the past, the current valuation suggests that expectations may be overly optimistic, warranting caution for prospective investors.

The GF Value™ is a proprietary estimate that considers historical trading multiples, the company's past growth, and projections for future performance. This comprehensive approach aims to provide a clearer picture of whether a stock is trading at a fair price or not.

How Does MTZ's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)39.3x53.3xForward P/E19.8x-The current P/E ratio of 39.3x is significantly below its 5-year median of 53.3x, indicating that MTZ is trading at a lower valuation than it has historically. This data supports the GF Value™ verdict of being overvalued, as the current P/E, while lower than historical levels, does not provide justification for the current market price of $246.18 relative to the GF Value™ estimate.

What Does MTZ's GF Score™ Tell Us?The GF Score™ is a composite score reflecting various aspects of a company's performance, including financial strength, profitability, growth, valuation, and momentum. For MasTec Inc, the score stands at a robust 90/100, indicating strong performance overall. The strongest sub-rank is in Growth, rated 10/10, while the Valuation rank is the weakest at 5/10.

MetricRatingGF Score™90Financial Strength6/10Profitability8/10Growth10/10Valuation5/10Momentum8/10With a high GF Score™, MTZ demonstrates strong growth potential and profitability, which provides some reassurance to investors. However, the moderate valuation rank signals caution, particularly in light of the current overvaluation scenario indicated by the GF Value™. The strength in growth suggests that while the company is performing well, its current price may not be justified by its financial metrics.

What Are Gurus and Insiders Doing with MTZ?Currently, 10 gurus hold positions in MasTec Inc, with 3 adding to their holdings and 8 trimming their positions in recent quarters. This mixed activity suggests a cautious approach among institutional investors regarding the stock's future performance. Notably, insider selling has totaled $9.3 million over the past 12 months with no recorded buying. This pattern of insider activity could imply a lack of confidence among executives about the stock's future prospects at its current valuation.

The insider selling without any buying activity raises questions about the company's outlook from those who know it best. Such signals often suggest that the current market price may not be sustainable and could warrant further scrutiny from potential investors.

What This Means for InvestorsBased on the analysis, MasTec Inc MTZ appears to be overvalued at its current price of $246.18, significantly above the GF Value™ of $190.19. The combination of a strong GF Score™ and high growth potential contrasts with the risks associated with its current valuation and insider activity, suggesting a careful approach is warranted. For further insights and detailed metrics, you can explore the MasTec Inc (MTZ) stock page and the GF Value™ page.

Frequently Asked QuestionsWhat is MTZ's GF Score™?

MTZ's GF Score™ is 90/100, indicating a strong overall performance across various value metrics.

Is MTZ overvalued or undervalued?

MTZ is currently overvalued, with a GF Value™ of $190.19 compared to its market price of $246.18.

What is MTZ's P/E ratio?

MTZ's P/E ratio is 39.3x, which is significantly below its 5-year median of 53.3x, indicating it may be trading at a lower valuation historically.

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].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

Key Takeaways MasTec is integrating civil, power, telecom, pipeline and electrical capabilities on one platform.The Superior acquisition expands MTZ's electrical expertise in mission-critical facilities and data centers.MTZ's strategy is backed by a record $21.4B backlog, though Communications deferrals remain a headwind. MasTec, Inc. (MTZ - Free Report) is evolving from a diversified infrastructure contractor into a more integrated, end-to-end platform capable of serving customers across the full project life cycle. Its capabilities now span construction management, civil work, power delivery, telecommunications, pipelines and maintenance, allowing multiple MasTec businesses to collaborate on complex projects. The company’s turnkey data center project demonstrates this strategy, with multiple sister companies working together on a single development.

The acquisition of The Superior Group significantly strengthens this model. Superior adds full-service electrical capabilities and a skilled workforce, particularly in mission-critical facilities and data centers. Combined with MasTec’s broader geographic reach and infrastructure capabilities, the deal creates opportunities to deepen customer relationships and provide more comprehensive solutions that improve speed, quality and execution certainty.

This integrated approach is particularly relevant as AI-driven data centers require coordinated investment across electrical systems, grid connections, power generation, natural gas infrastructure, fiber connectivity and civil construction. MasTec is increasingly positioned to capture a larger share of this spending rather than participating in only one part of a project. Management is also engaging customers earlier in development and pursuing opportunities across the entire mission-critical project life cycle.

The strategy is supported by a record $21.4 billion backlog and strong demand across several infrastructure markets. However, near-term Communications project deferrals remain a headwind. Still, diversification and the Superior acquisition should strengthen MasTec’s ability to benefit from the expanding infrastructure investment cycle.

MasTec Versus Its Infrastructure RivalsMasTec faces strong competition from Quanta Services (PWR - Free Report) and EMCOR Group (EME - Free Report) as infrastructure spending increasingly shifts toward integrated, mission-critical projects. Quanta is perhaps the closest comparison, with broad capabilities spanning engineering, procurement, construction, power generation, transmission, substations, pipelines and communications. Quanta is also building turnkey solutions for data centers, combining on-site electrical infrastructure with grid interconnections and power generation. Recent acquisitions have further expanded Quanta's electrical, mechanical and fabrication capabilities for data centers and other large-load customers.

EMCOR is particularly formidable in mission-critical construction. It provides electrical and mechanical construction, HVAC, plumbing, fire protection, prefabrication and facilities services for data centers. Its ability to support projects from design and construction through ongoing maintenance gives EMCOR a strong full-lifecycle offering. Against these rivals, MasTec’s differentiator is its combination of civil, power, telecom, pipeline and newly strengthened electrical capabilities under one platform.

MTZ Stock’s Price Performance, Valuation & Estimate TrendShares of this Florida-based infrastructure construction company have gained 36% over the past year, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 Index.

MTZ Price Performance (1 Year)

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 21.35, 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.

MTZ Estimate Trend

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.

Key Takeaways MasTec gets the overall edge over Dycom on stronger momentum, diversification and growth drivers.Dycom has faster organic communications growth, record backlog and a cheaper forward earnings valuation.MasTec's record $21.4B backlog and broader data-center platform support a more balanced path to upside. The accelerating buildout of fiber networks, data-center connectivity and other digital infrastructure is creating a multiyear opportunity for contractors with the scale and expertise to execute complex projects. Dycom Industries (DY - Free Report) is heavily exposed to communications infrastructure, particularly fiber-to-the-home, long-haul and middle-mile fiber, while MasTec (MTZ - Free Report) operates a broader infrastructure platform spanning communications, power delivery, clean energy, pipelines and mission-critical construction.

Both companies stand to benefit from rising fiber investment and AI-driven data-center demand, but their near-term operating trends differ. Dycom is showing stronger direct fiber momentum, while MasTec combines communications exposure with a more diversified infrastructure portfolio. Let's dive deep and closely compare the fundamentals of the two stocks to determine which one has more upside potential now.

The Case for Dycom StockDycom entered the second half of fiscal 2027 with strong operating momentum. Second-quarter revenues reached a record $2.01 billion, rising 45.6% year over year and 16.7% organically. Adjusted EBITDA increased 53.5% to $315.5 million, while adjusted earnings per share (EPS) climbed 45.3% to $5.29. Total backlog surged 53.2% to $12.24 billion, providing substantial visibility into future activity.

Fiber remains Dycom's biggest growth engine. Fiber-to-the-home revenues increased nearly 60% during the first half, while cloud migration, AI workloads and data-center expansion are fueling long-haul, middle-mile and high-strand interconnect demand. Management says contracted backlog tied specifically to long-haul, middle-mile and inside-the-fence fiber now exceeds $1 billion. The company believes the broader opportunity it previously sized at roughly $20 billion remains heavily weighted toward the latter part of the decade, giving Dycom a potentially long growth runway.

Dycom is also becoming less dependent on traditional communications work. The National Technology Integrators acquisition expands structured-cabling capabilities, while Power Solutions strengthens exposure to electrical systems for data centers. Management raised fiscal 2027 revenue guidance to $7.48-$7.66 billion and continues to expect consolidated adjusted EBITDA margin expansion.

However, near-term margin pressure deserves attention. Communications adjusted EBITDA margin fell 134 basis points (bps) to 13.6% as Dycom invested in workforce expansion, absorbed higher fuel costs and dealt with reduced operating leverage from wireless project delays. About $150 million of wireless revenues have shifted into fiscal 2028, although management says the overall program scope remains intact. Dycom also carries about $2.50 billion of notional net debt, although improving operating cash flow and free cash flow provide some support.

The Case for MasTec StockMasTec offers a broader infrastructure growth story. Second-quarter 2026 revenues increased 23% year over year to a record $4.4 billion, adjusted EBITDA rose 40% to $384 million and adjusted EPS advanced 49% to $2.22. Its 18-month backlog reached a record $21.4 billion, up 30% year over year, giving the company strong visibility across several infrastructure markets.

The biggest advantage is diversification. Weakness in Communications can be offset by Power Delivery, Pipeline Infrastructure and Clean Energy and Infrastructure, all of which are benefiting from grid modernization, power generation, data-center development and other critical-infrastructure spending. MasTec expects the majority of roughly $2.5 billion of recent backlog growth to benefit 2027 rather than 2026, pointing to another potential growth leg ahead.

The Superior Group acquisition further enhances MasTec's opportunity in data centers and mission-critical electrical infrastructure. Superior brings about 3,000 skilled employees and broadens MasTec's ability to combine electrical, telecom, civil and other infrastructure capabilities on large projects. Management raised 2026 guidance to $18.2 billion in revenues, $1.6 billion in adjusted EBITDA and $9.30 in adjusted EPS.

Still, MasTec's fiber business has near-term challenges. Communications revenues rose only 6.2% in the second quarter, while EBITDA declined 11.6% and margin fell to 8.2% from 9.9%. RDOF projects are rolling off, replacement wireline projects have been delayed and the next major wireless equipment cycle is not expected until next year. Management consequently reduced its Communications outlook despite remaining bullish on fiber and hyperscaler connectivity over the longer term.

Market Momentum Gives MasTec Stock the LeadMasTec shares have gained 15.6% year to date (YTD), while Dycom stock has lost 8.8%. MTZ has also outperformed the Building Products - Heavy Construction industry's 10.3% gain, the broader Zacks Construction sector's 5.4% rise and the S&P 500's 11.7% advance. DY trails all three benchmarks.

The market is currently rewarding MasTec's diversified earnings growth and backlog visibility more than Dycom's strong but more concentrated fiber story.

Dycom vs MasTec Price Performance (YTD)

Image Source: Zacks Investment Research

Dycom Stock Holds the Valuation AdvantageDycom trades at 16.72X forward 12-month earnings, below both MasTec's 21.68X and the industry's 19.08X. That gives DY a clear valuation advantage.

MasTec's premium appears partly justified by its broader exposure to power, data centers and other infrastructure markets. Dycom offers more valuation cushion if its fiber growth remains strong.

Dycom vs MasTec Valuation (P/E F12M)

Image Source: Zacks Investment Research

Earnings Estimates Send a Mixed SignalDycom's fiscal 2027 consensus estimate for EPS has edged up to $16.39 from $16.35 over the past 60 days, implying 36.9% growth, while the fiscal 2028 estimate slipped marginally to $19.94 from $19.95. Revenues are expected to rise 37.6% in fiscal 2027 and another 13.1% in fiscal 2028.

DY Estimate

Image Source: Zacks Investment Research

For MasTec, the 2026 EPS estimate has increased to $9.31 from $9.19 over the past 30 days, while the 2027 estimate has declined to $12.77 from $12.91. Still, projected EPS growth of 42.1% in 2026 and 37.2% in 2027 indicates strong earnings potential.

MTZ Estimate

Image Source: Zacks Investment Research

Which Stock Has Better Upside?Dycom currently has the stronger pure-play fiber setup, faster organic communications growth and cheaper valuation. Its record backlog and expanding exposure to data-center interconnects strengthen the long-term case.

MasTec, however, gets the overall edge. Its superior YTD performance, diversified backlog, strengthening data-center platform and substantial earnings growth expected through 2027 provide a more balanced path to upside. Importantly, MasTec currently carries a Zacks Rank #3 (Hold) compared with Dycom's Zacks Rank #4 (Sell). While neither ranking signals aggressive buying, MasTec's stronger market momentum and broader growth drivers make it the more attractive choice between the two stocks at present.

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

Caisse de depot et placement du Quebec acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 10,844 shares of the construction company’s stock, valued at approximately $4,512,000.

Other hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new stake in MasTec during the 2nd quarter worth approximately $32,000. Ascentis Independent Advisors bought a new position in shares of MasTec in the first quarter worth approximately $30,000. Solstein Capital LLC bought a new position in shares of MasTec in the second quarter worth approximately $58,000. GHP Investment Advisors Inc. bought a new position in shares of MasTec in the first quarter worth approximately $65,000. Finally, Harbor Investment Advisory LLC increased its stake in shares of MasTec by 486.1% in the second quarter. Harbor Investment Advisory LLC now owns 211 shares of the construction company’s stock worth $88,000 after purchasing an additional 175 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In Several analysts have recently commented on the stock. TD Cowen decreased their price objective on shares of MasTec from $470.00 to $420.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on shares of MasTec from $471.00 to $491.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Weiss Ratings lowered MasTec from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Zacks Research cut MasTec from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Wall Street Zen downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Nineteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.32.

View Our Latest Report on MTZ Insider Buying and Selling at MasTec In other news, Director Ernst N. Csiszar sold 6,500 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 10,816 shares in the company, valued at $4,014,574.72. This trade represents a 37.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 21.40% of the stock is currently owned by insiders.

MasTec Trading Down 4.0% MasTec stock opened at $241.08 on Friday. The stock has a market cap of $19.36 billion, a P/E ratio of 38.45 and a beta of 1.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.40 and a quick ratio of 1.37. MasTec, Inc. has a 1 year low of $171.05 and a 1 year high of $441.43. The firm’s 50 day moving average price is $324.93 and its 200-day moving average price is $337.05.

MasTec (NYSE:MTZ – Get Free Report) last issued its earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.01). The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.30 billion. MasTec had a return on equity of 18.08% and a net margin of 3.07%.MasTec’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 EPS. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. On average, equities analysts predict that MasTec, Inc. will post 8.91 earnings per share for the current fiscal year.

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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Key Takeaways Quanta's $53.4B backlog and strong cash generation support its near-term infrastructure outlook.MasTec trades at a lower forward P/E, making valuation its strongest advantage versus Quanta.Quanta's EPS estimates rose sharply, while its grid and large-load exposure strengthens its setup. MasTec, Inc. (MTZ - Free Report) and Quanta Services, Inc. (PWR - Free Report) are two major beneficiaries of North America’s infrastructure investment cycle. MasTec provides engineering and construction services across communications, power delivery, pipelines, clean energy and industrial infrastructure, while Quanta specializes in electric power, utility, renewable energy, communications and other critical infrastructure solutions. MasTec’s business spans transmission, grid modernization, renewables, pipelines and data centers.

The companies increasingly compete for opportunities created by grid modernization, rising electricity demand, AI-driven data centers and large-scale power infrastructure investment. Both recently strengthened their capabilities through acquisitions, making the comparison particularly relevant as infrastructure spending accelerates.

Let's dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now.

The Case for MasTec StockMasTec enters the second half of 2026 with strong operating momentum. Second-quarter revenues increased 23.4% year over year, while adjusted EBITDA rose 39.8% and adjusted earnings per share (EPS) advanced 48.8%. Its 18-month backlog reached a record $21.4 billion, up 30%, providing solid visibility into future activity.

Growth is broad-based. Clean Energy and Infrastructure revenues surged 43.4%, Power Delivery revenues rose 19.2% and Pipeline Infrastructure revenues increased 19.1%. Pipeline profitability was particularly strong, while Power Delivery is benefiting from utility spending on transmission, grid hardening and reliability. Management sees mission-critical development creating additional requirements for transmission lines, substations and system upgrades.

The acquisition of The Superior Group adds another compelling growth lever. Superior strengthens MasTec’s electrical capabilities and exposure to data center infrastructure, while creating opportunities to combine electrical services with MasTec’s civil, power and communications capabilities. Management believes the combination expands its addressable market and positions MasTec for infrastructure investment driven by AI, electrification and digital infrastructure.

MasTec consequently increased its 2026 adjusted EPS guidance to $9.30, implying 42% year-over-year growth.

However, Communications remains a near-term concern. Lower second-half wireless activity and wireline project deferrals are creating pressure, although management remains positive about longer-term fiber and hyperscaler connectivity opportunities. Superior also increases acquisition-integration and leverage considerations after MasTec funded much of the roughly $1.6-billion purchase with cash and borrowings.

The Case for Quanta StockQuanta is operating from an even stronger position. Second-quarter revenues reached $9.56 billion, rising 41.1% year over year, including 27.4% organic growth. Adjusted EPS increased 71% and adjusted EBITDA climbed 59.5%, while free cash flow reached $886 million.

The company’s record $53.4-billion backlog underscores exceptional demand visibility. Quanta is benefiting from the convergence of grid modernization, power generation and large-load infrastructure. Electric-grid spending is being supported by load growth, interconnections, substations and increasingly visible high-voltage transmission projects. Meanwhile, large multi-year data center programs are substantially expanding its addressable market.

Quanta has also strengthened its self-perform model through acquisitions including Phalcon, Enerfab, Percheron and PSD, expanding electrical, mechanical, fabrication and front-end capabilities. Management sharply raised 2026 expectations, forecasting revenues of $39.3-$39.7 billion and adjusted EPS of $16.45-$16.95. Free cash flow is expected to be in the range of $2-$2.5 billion.

Risks remain. Project timing can be affected by permitting, weather, regulation, supply-chain constraints and trade policy. Acquisitions also add integration risk. Nevertheless, Quanta’s scale, craft-skilled workforce, self-perform capabilities and diversified exposure give it considerable flexibility to allocate resources toward the strongest infrastructure markets.

Market Momentum Clearly Favors QuantaQuanta has been the stronger stock in 2026. PWR has surged 56.9% YTD compared with MasTec’s 25% gain. Both have comfortably outperformed the Zacks Construction sector’s 8.8% rise and the S&P 500’s 12.2% advance.

MTZ vs PWR Price Performance (YTD)

Image Source: Zacks Investment Research

The performance also highlights strong investor enthusiasm for infrastructure contractors benefiting from electrification and data centers, including EMCOR Group (EME - Free Report) and Sterling Infrastructure (STRL - Free Report) . Between MTZ and PWR, however, Quanta’s substantially stronger YTD appreciation reflects greater confidence in its earnings momentum and infrastructure exposure.

MasTec Holds the Valuation AdvantageMasTec offers the more attractive valuation. MTZ trades at 23.74X forward 12-month earnings, well below Quanta’s 37.35X. Both command premiums to the Zacks Construction sector’s 19.99X multiple.

MTZ vs PWR Valuation (P/E F12M)

Image Source: Zacks Investment Research

The comparison with infrastructure peers such as EMCOR and Sterling reinforces the importance of balancing structural growth prospects against valuation. Quanta’s premium reflects its scale, execution, cash generation and strong positioning across grid and large-load markets. Yet MTZ provides exposure to many of the same secular themes at a considerably lower earnings multiple. Therefore, valuation is clearly MasTec’s strongest relative advantage.

Estimate Revisions Tilt Toward Quanta StockMasTec’s estimate trend is mixed. Over the past 30 days, the Zacks Consensus Estimate for 2026 EPS increased from $9.19 to $9.31, while the 2027 estimate declined from $12.91 to $12.77. The consensus mark implies 42.1% EPS growth and 27.1% revenue growth in 2026, followed by 37.2% EPS growth and 17.4% revenue growth in 2027.

MTZ EPS Estimate Revision Trend

Image Source: Zacks Investment Research

Quanta has stronger estimate momentum. Its 2026 consensus estimate for EPS climbed from $14.01 to $16.37, while the 2027 estimate increased from $16.43 to $18.96. The consensus estimate projects 52.3% EPS growth and 38.4% revenue growth in 2026, followed by 15.8% EPS growth and 14.9% revenue growth in 2027.

PWR EPS Estimate Revision Trend

Image Source: Zacks Investment Research

Which Stock Emerges as the Better Pick?MasTec offers the cheaper valuation and substantial upside from Superior, data centers, power delivery and its record backlog. Its stronger projected 2027 EPS growth also suggests meaningful room for continued earnings expansion.

However, Quanta currently holds the edge. Its larger backlog, stronger cash generation, broader exposure to electric-grid and large-load investment, superior YTD stock performance and sharply positive EPS estimate revisions provide a stronger near-term investment setup. Quanta’s premium valuation is the principal drawback, but its execution and earnings visibility help support that premium.

With MasTec carrying a Zacks Rank #3 (Hold) and Quanta sporting a Zacks Rank #1 (Strong Buy), Quanta appears to offer the better upside potential at present, while MasTec remains an attractive infrastructure name to watch given its lower valuation and strengthening data center exposure. You can see the complete list of today’s Zacks #1 Rank stocks here.

Bruni J V & Co. Co. bought a new stake in MasTec, Inc. (NYSE:MTZ – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,125 shares of the construction company’s stock, valued at approximately $6,708,968,000. MasTec makes up about 0.6% of Bruni J V & Co. Co.’s portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bell Investment Advisors Inc acquired a new stake in MasTec in the second quarter valued at about $32,000. Ascentis Independent Advisors acquired a new position in MasTec during the 1st quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in MasTec during the 4th quarter worth approximately $30,000. GHP Investment Advisors Inc. purchased a new position in shares of MasTec during the 1st quarter worth approximately $65,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of MasTec by 486.1% during the 2nd quarter. Harbor Investment Advisory LLC now owns 211 shares of the construction company’s stock worth $88,000 after buying an additional 175 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MasTec In related news, Director Ernst N. Csiszar sold 6,500 shares of MasTec 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 transaction, the director directly owned 10,816 shares in the company, valued at $4,014,574.72. The trade was a 37.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth MTZ has been the topic of a number of analyst reports. Stifel Nicolaus set a $455.00 price target on MasTec in a research note on Monday, May 4th. UBS Group lowered their price target on shares of MasTec from $453.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Citigroup reduced their price objective on shares of MasTec from $483.00 to $408.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. TD Cowen decreased their price objective on shares of MasTec from $470.00 to $420.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, CICC Research initiated coverage on shares of MasTec in a research report on Thursday, May 21st. They set an “outperform” rating and a $480.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, MasTec presently has an average rating of “Buy” and a consensus price target of $427.32. View Our Latest Report on MTZ

MasTec Price Performance MasTec stock opened at $280.51 on Wednesday. MasTec, Inc. has a 52 week low of $167.66 and a 52 week high of $441.43. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $342.53 and its 200 day simple moving average is $337.06. The firm has a market capitalization of $22.53 billion, a PE ratio of 44.74 and a beta of 1.82.

MasTec (NYSE:MTZ – Get Free Report) last posted its earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.01). The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $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. On average, equities research analysts predict that MasTec, Inc. will post 8.91 EPS for the current fiscal year.

MasTec Company 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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Key Takeaways MasTec's backlog reached a record $21.4B, up 30% year over year at Q2 2026-end.Power Delivery, Clean Energy & Infrastructure and Pipeline are adding depth to backlog.Most of the $2.5B first-half backlog increase is expected to benefit 2027 revenues. MasTec, Inc. (MTZ - Free Report) has expanded its contracted work across power delivery, clean energy, pipeline and mission-critical infrastructure. Demand for grid modernization, power generation, renewables and natural gas infrastructure is supporting new project awards. The broader mix also gives the company multiple avenues to convert infrastructure spending into revenues.

Backlog reached a record $21.4 billion at the end of the second quarter of 2026, up 30% year over year and about 5% sequentially. The company also posted a 1.2x book-to-bill ratio. During the first half, backlog increased nearly $2.5 billion. Only a modest portion of this increase is expected to contribute to 2026 revenues, with the majority expected to benefit 2027.

Power Delivery, Clean Energy & Infrastructure and Pipeline are adding depth to the backlog. Power Delivery backlog reached approximately $6.3 billion, while Clean Energy & Infrastructure backlog rose to $7.8 billion. Pipeline backlog increased 35% sequentially to about $1.8 billion, with a 1.7x book-to-bill ratio. Power Delivery is benefiting from grid modernization and data center power demand, while renewables and natural gas infrastructure are supporting the other two segments.

Reported backlog also does not capture the full level of activity in some businesses. MasTec indicated that Pipeline has strong visibility beyond its reported backlog, while large project pursuits could add further awards. The company expects Power Delivery, Clean Energy & Infrastructure and Pipeline to drive additional backlog growth through year-end. This combination of contracted work and active project opportunities gives MasTec a broad base for revenue conversion as projects move into execution.

How MasTec Compares With Infrastructure Construction LeadersMasTec competes closely with EMCOR Group, Inc. (EME - Free Report) and Quanta Services, Inc. (PWR - Free Report) across electrical, mechanical and infrastructure construction. All three companies maintain sizable order books, providing revenue visibility and reflecting demand across power, data center and broader infrastructure markets.

EMCOR has built strong revenue visibility through record Remaining Performance Obligations, or RPOs. RPOs reached $17.14 billion at the end of the second quarter, up 44% year over year and 10% sequentially. About 95% of the increase was organic. Network and communications, led by data center activity, remained a major source of demand. Strong bookings in water and wastewater, health care and institutional markets also broadened the RPO base.

Quanta reported a record backlog of approximately $53.4 billion in the second quarter, up about 49% year over year from $35.8 billion. The order book reflects demand across utility, generation and technology load center markets. Larger programs and multiyear commitments are also developing across these markets, which could support revenues over an extended period. Recent acquisitions have added capabilities across electrical, mechanical, civil and fabrication services, further broadening the addressable market.

Both EMCOR and Quanta offer strong revenue visibility through sizable order books, while MasTec adds exposure across power delivery, pipeline, clean energy and mission-critical infrastructure. The comparison also shows different sources of backlog strength, with EMCOR benefiting from data center-led RPO growth, Quanta from large utility and technology load center programs and MasTec from a broader mix of infrastructure markets.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have gained 31.6% 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 25.13, as shown in the chart below.

Image Source: Zacks Investment Research

EPS Trend of MTZMTZ's earnings estimates for 2026 have moved upward in the past 30 days to $9.31, but the same for 2027 moved down to $12.67 per share. The revised estimates for 2026 and 2027 imply a year-over-year surge of 42.1% and 36.1%, 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.

Key Takeaways MTZ posted record Q2 revenues of $4.37B, while adjusted EBITDA rose 40% and adjusted EPS climbed 49%.MasTec raised 2026 guidance to $18.2B in revenues, $1.6B in adjusted EBITDA and $9.30 in adjusted EPS.MTZ's $21.4B backlog and strength in power, clean energy and pipelines offset Communications softness. MasTec, Inc. (MTZ - Free Report) delivered another strong quarter, reinforcing management's confidence to raise its full-year 2026 outlook. The key question now is whether second-quarter execution provides enough evidence to support those higher expectations.

The results were impressive. Second-quarter revenues climbed 23% year over year to a record $4.37 billion, while adjusted EBITDA increased 40% to $384 million and adjusted earnings per share rose 49% to $2.22. Just as importantly, 18-month backlog reached a record $21.4 billion, up 30% from a year ago, providing strong revenue visibility heading into the second half of 2026.

Management responded by raising full-year guidance. MasTec now expects 2026 revenues of $18.2 billion, adjusted EBITDA of $1.6 billion and adjusted EPS of $9.30, representing year-over-year growth of 27%, 39% and 42%, respectively. The upgraded outlook reflects continued strength in Power Delivery, Clean Energy & Infrastructure and Pipeline Infrastructure, which more than offsets near-term softness in the Communications business.

The acquisition of The Superior Group further strengthens the growth case by expanding MasTec's capabilities in mission-critical electrical infrastructure and data centers. Management also highlighted accelerating demand tied to AI, grid modernization, power generation and digital infrastructure, with much of the recently added backlog expected to contribute more meaningfully in 2027 and beyond.

While Communications faces temporary wireless and wireline project delays, MasTec's diversified business mix and record backlog suggest that the raised 2026 outlook is supported by broad-based operating momentum rather than a single growth driver.

How MasTec Compares With Infrastructure Construction LeadersAmong infrastructure contractors, Quanta Services (PWR - Free Report) and Sterling Infrastructure (STRL - Free Report) are two of the closest peers when evaluating whether MasTec's raised 2026 outlook is achievable.

Like MasTec, Quanta is benefiting from accelerating utility investment, grid modernization and data center-related power demand. However, MasTec's broader exposure to clean energy, pipeline infrastructure and communications provides additional diversification, while the Superior acquisition strengthens its position in mission-critical electrical infrastructure. Quanta remains a formidable competitor in transmission and distribution, but MasTec is expanding into similar high-growth opportunities.

Sterling is another beneficiary of AI-driven infrastructure spending, particularly through mission-critical site development for data centers and advanced manufacturing. While Sterling has delivered exceptional execution in its niche, its business remains more concentrated than MasTec's. MasTec's record backlog, diversified end markets and raised guidance suggest a broader earnings foundation. Both Quanta and Sterling are well positioned, but MasTec's multi-segment platform offers greater resilience across infrastructure investment cycles.

MTZ Stock’s Price Performance & Valuation TrendShares of this Florida-based infrastructure construction company have gained 19% 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 discount compared with its industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 20.59, as shown in the chart below.

Image Source: Zacks Investment Research

EPS Trend of MTZFor 2026 and 2027, MTZ’s earnings estimates have trended upward in the past 30 days, as shown below. The revised estimated figures for 2026 and 2027 imply 42.1% and 36.1% year-over-year growth, 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.

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) (“MasTec”) today announced the pricing of its public offering of $650,000,000 aggregate principal amount of senior notes due 2036. The notes will pay interest semi-annually at a rate of 5.850% and will mature on September 30, 2036. The notes were priced at 99.656%. The notes will be MasTec's senior unsecured obligations and will rank equal in right of payment with all existing and future senior unsecured indebtedness of MasTec, and s.

3 Stocks Cashing In on AI While Everyone Watches NVIDIAMasTec NYSE: MTZ reported second-quarter 2026 revenue of $4.374 billion, up 23% from a year earlier, as growth in its power delivery, pipeline and clean energy businesses offset emerging pressure in communications. Adjusted EBITDA increased 40% year over year to $384 million, while adjusted earnings per share rose 49% to $2.22.

Chief Executive Officer José Mas said revenue, EBITDA and earnings per share each exceeded the company’s guidance. Adjusted EBITDA margin improved by 100 basis points from the prior-year quarter, while total company book-to-bill exceeded 1.2x. Quarter-end backlog reached a record $21.4 billion, up nearly $5 billion year over year and roughly $1 billion organically from the prior quarter.

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3 Energy Stocks to Buy as AI Power Demand Surges—and 2 to Avoid“We delivered another excellent quarter,” Mas said, adding that the company set highs across “virtually every key financial metric.” He said demand continued to strengthen across MasTec’s end markets despite what he characterized as increased market noise in recent weeks.

Guidance Raised Following Superior Acquisition MasTec raised its full-year outlook following the July close of its acquisition of The Superior Group, which Mas described as the largest acquisition in the company’s history. The transaction expands MasTec’s electrical-infrastructure capabilities for mission-critical facilities and data centers, while adding a workforce of about 3,000 people, according to Chief Financial Officer Paul DiMarco.

Full-year revenue is now expected to reach $18.2 billion. Adjusted EBITDA is expected to total $1.6 billion. Adjusted EPS is forecast at $9.30. Third-quarter revenue is expected to be about $4.9 billion, with adjusted EBITDA of $482 million and adjusted EPS of $2.98. This infrastructure construction stock: Is it ready to pop?The updated full-year targets represent year-over-year growth of 27% in revenue, 39% in adjusted EBITDA and 42% in adjusted EPS, Mas said. The company expects Superior’s contribution, combined with stronger-than-expected performance in several legacy operations, to offset reduced expectations for communications.

DiMarco said MasTec expects more than $1 billion in cash flow from operations during 2026, with most of that amount expected in the fourth quarter. Cash flow from operations was essentially flat in the second quarter as working-capital investment offset earnings growth. Net leverage was 1.8x at quarter-end and would have been 2.2x on a pro forma basis for the Superior acquisition; MasTec expects leverage to be below 2x by year-end.

Communications Outlook Reduced on Deferrals MasTec lowered its outlook for the communications segment, citing lower wireless activity in the second half and deferred wireline projects. The segment generated about $890 million in second-quarter revenue and $73 million in EBITDA, for an EBITDA margin of approximately 8.2%.

DiMarco said execution challenges on certain projects, along with higher indirect fuel and equipment expenses, resulted in lower profit flow-through than anticipated. The company now expects full-year communications revenue of approximately $3.25 billion and EBITDA margins in the high single digits, about 100 basis points below the prior year.

For the third quarter, MasTec forecasts communications revenue of roughly $800 million with high-single-digit adjusted EBITDA margins. The company is also using the period to right-size its operational support model and rationalize select markets, DiMarco said.

Mas said the reduction does not reflect a decline in customer capital investment, but rather changes in spending timing. Wireless construction has been affected as carriers wait for equipment associated with newly acquired spectrum, while wireline projects have been delayed after certain Rural Digital Opportunity Fund projects rolled off and replacement work encountered later starts and permitting issues.

In response to an analyst question, Mas said the communications shortfall was roughly split between wireless and wireline, with a somewhat greater impact from wireless. He said the wireline delays were concentrated among a couple of customers. The company expects second-half communications margins to improve by about 200 basis points from first-half levels despite the revenue pressure.

MasTec remains constructive on long-term opportunities in fiber deployment, broadband infrastructure and hyperscaler connectivity. Mas said the company is pursuing multiple hyperscaler-related projects exceeding $1 billion and expects some of that work to affect 2027 rather than 2026.

Power, Pipeline and Clean Energy Drive Growth Power Delivery generated approximately $1.25 billion of second-quarter revenue and $113 million of EBITDA, producing margins above 9%. Revenue increased nearly 20% year over year, while backlog rose to a record $6.3 billion. DiMarco said utility investment is being supported by grid modernization, electrification, reliability requirements and increasing power needs tied to data center development.

Including Superior, MasTec expects third-quarter Power Delivery revenue of approximately $1.6 billion and low-double-digit EBITDA margins. Full-year revenue is projected at roughly $5.725 billion, also with low-double-digit margins. Mas said the company’s legacy Power Delivery business is expected to produce an approximately 9.8% full-year margin, above prior guidance.

Pipeline Infrastructure delivered $643 million in second-quarter revenue and approximately $119 million in EBITDA, representing an 18.4% margin. Segment backlog rose 35% sequentially to about $1.8 billion, with a 1.7x book-to-bill ratio. Mas said a recently signed project that contributed to backlog is scheduled for 2027, limiting its effect on current-year revenue.

Management said pipeline visibility extends beyond reported backlog because of customer engagement and project-development activity. Mas said the company expects the second half of 2027 to be substantially larger than the first half in pipeline activity and remains optimistic about 2028 and 2029.

Clean Energy and Infrastructure produced more than $1.6 billion in revenue and $128 million in EBITDA. Segment backlog increased about $500 million sequentially to approximately $7.8 billion, supported by renewables, civil infrastructure, industrial construction and general building activity. MasTec expects third-quarter revenue of about $1.9 billion and full-year revenue of approximately $6.8 billion, with high-single-digit EBITDA margins.

Mas said solar represents roughly 60% to 65% of the company’s renewables business, though the company continues to see resilient wind demand and has secured wind backlog for 2027. He also cited growing pursuits involving simple-cycle generation, reciprocating internal combustion engines, water infrastructure and turnkey data center construction.

Mission-Critical Opportunity Expands Management repeatedly pointed to mission-critical infrastructure, including data centers, power generation, transmission and connectivity, as a major long-term growth driver. Mas said backlog should finish 2026 above its current level, with Power Delivery, Clean Energy and Infrastructure, and Pipeline expected to drive growth.

He said MasTec’s $2.5 billion of backlog growth during the first half will have only a modest impact on 2026 revenue, with most expected to benefit 2027. The company also said its second-quarter backlog growth did not include the larger billion-dollar pursuits it is currently pursuing.

On potential restrictions on data center development in certain states, Mas said the geographies cited by an analyst were generally not major MasTec markets. He said the company is seeing communities and state-level discussions that support expanded data center development, and that it does not expect such actions to have a significant effect on the business.

About MasTec (NYSE:MTZ)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 (MTZ - Free Report) came out with quarterly earnings of $2.22 per share, beating the Zacks Consensus Estimate of $2.19 per share. This compares to earnings of $1.49 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +1.37%. A quarter ago, it was expected that this utility contractor would post earnings of $0.98 per share when it actually produced earnings of $1.39, delivering a surprise of +41.84%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

MasTec, which belongs to the Zacks Building Products - Heavy Construction industry, posted revenues of $4.37 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.81%. This compares to year-ago revenues of $3.54 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

MasTec shares have added about 32.2% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for MasTec?While MasTec has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for MasTec was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.15 on $5.09 billion in revenues for the coming quarter and $9.58 on $18.44 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Heavy Construction is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Tutor Perini (TPC - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This construction company is expected to post quarterly earnings of $1.36 per share in its upcoming report, which represents a year-over-year change of -3.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Tutor Perini's revenues are expected to be $1.56 billion, up 13.7% from the year-ago quarter.

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) today announced second quarter 2026 financial results and updated full year 2026 financial guidance. Jose R. Mas, MasTec's CEO stated, “We once again reported a very strong quarter with excellent performance in revenue growth, margin expansion and backlog development. Strong year-over-year revenue growth of 23% was broad-based and solid execution drove margin expansion with our adjusted EBITDA margin improving 100 basis points. 18-mo.

Analysts on Wall Street project that MasTec (MTZ - Free Report) will announce quarterly earnings of $2.19 per share in its forthcoming report, representing an increase of 47% year over year. Revenues are projected to reach $4.3 billion, increasing 21.2% from the same quarter last year.

The consensus EPS estimate for the quarter has undergone an upward revision of 14.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

In light of this perspective, let's dive into the average estimates of certain MasTec metrics that are commonly tracked and forecasted by Wall Street analysts.

Based on the collective assessment of analysts, 'Revenue- Communications' should arrive at $875.25 million. The estimate points to a change of +4.6% from the year-ago quarter.

It is projected by analysts that the 'Revenue- Power Delivery' will reach $1.17 billion. The estimate points to a change of +11.6% from the year-ago quarter.

Analysts' assessment points toward 'Revenue- Clean Energy and Infrastructure' reaching $1.67 billion. The estimate indicates a year-over-year change of +48%.

Analysts forecast 'Backlog' to reach $20.52 billion. The estimate compares to the year-ago value of $16.45 billion.

The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Communications' of $94.09 million. Compared to the present estimate, the company reported $82.60 million in the same quarter last year.

The combined assessment of analysts suggests that 'Adjusted EBITDA- Power Delivery' will likely reach $104.69 million. The estimate is in contrast to the year-ago figure of $91.30 million.

The consensus estimate for 'Adjusted EBITDA- Other' stands at $7.00 million. The estimate is in contrast to the year-ago figure of $7.20 million.

The average prediction of analysts places 'Adjusted EBITDA- Clean Energy and Infrastructure' at $129.78 million. Compared to the present estimate, the company reported $83.30 million in the same quarter last year.

View all Key Company Metrics for MasTec here>>>

Shares of MasTec have demonstrated returns of -24.9% over the past month compared to the Zacks S&P 500 composite's +1.9% change. With a Zacks Rank #1 (Strong Buy), MTZ is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Posted by Defense World Staff on Jul 29th, 2026

Altshuler Shaham Ltd lifted its holdings in shares of MasTec, Inc. (NYSE:MTZ – Free Report) by 76.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,223 shares of the construction company’s stock after purchasing an additional 3,983 shares during the period. Altshuler Shaham Ltd’s holdings in MasTec were worth $2,967,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in MTZ. Brighton Jones LLC purchased a new stake in shares of MasTec during the 4th quarter worth approximately $227,000. NewEdge Advisors LLC grew its holdings in MasTec by 32.6% during the first quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after purchasing an additional 1,083 shares during the period. Sivia Capital Partners LLC bought a new position in MasTec during the second quarter valued at $271,000. Northwestern Mutual Wealth Management Co. increased its position in MasTec by 105.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company’s stock worth $61,000 after buying an additional 182 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in MasTec by 793.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,027 shares of the construction company’s stock worth $175,000 after buying an additional 912 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Insiders Place Their Bets In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $417.00, for a total value of $1,251,000.00. Following the sale, the director owned 30,646 shares in the company, valued at approximately $12,779,382. This trade represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction 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 sale, the director directly owned 10,816 shares of the company’s stock, valued at $4,014,574.72. This represents a 37.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 21.40% of the company’s stock.

MasTec Price Performance MTZ stock opened at $312.21 on Wednesday. The firm has a 50 day moving average of $371.15 and a 200-day moving average of $332.45. The firm has a market capitalization of $24.67 billion, a P/E ratio of 54.68 and a beta of 1.77. MasTec, Inc. has a 12 month low of $160.08 and a 12 month high of $441.43. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

MasTec (NYSE:MTZ – Get Free Report) last posted its earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.41. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.47 billion. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. As a group, sell-side analysts predict that MasTec, Inc. will post 9.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In A number of brokerages recently issued reports on MTZ. TD Cowen boosted their price objective on MasTec from $445.00 to $470.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Roth Capital reiterated a “buy” rating and set a $450.00 target price on shares of MasTec in a research report on Monday, May 4th. CICC Research initiated coverage on shares of MasTec in a research note on Thursday, May 21st. They issued an “outperform” rating and a $480.00 target price for the company. UBS Group lifted their target price on shares of MasTec from $420.00 to $453.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Stifel Nicolaus set a $455.00 price target on shares of MasTec in a research report on Monday, May 4th. Nineteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, MasTec has an average rating of “Moderate Buy” and an average price target of $466.89.

Check Out Our Latest Analysis on MTZ

About MasTec (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.

See Also Five stocks we like better than MasTec These 3 Stocks Have Soared in 2026—Can They Keep Climbing? Hasbro’s Earnings Beat Shows Why This Is No Longer Just a Toy Story Rambus: Another AI Phoenix Ready to Rise From the Ashes of Correction Chips & Clips: Memory Tariffs Rewire Tech Supply Chains Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ – Free Report).

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Posted by Defense World Staff on Jul 26th, 2026

MasTec, Inc. (NYSE:MTZ – Get Free Report) has received an average recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $466.8889.

MTZ has been the topic of a number of research reports. Guggenheim increased their price target on MasTec from $480.00 to $518.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays boosted their price objective on MasTec from $260.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Mizuho upped their price objective on MasTec from $498.00 to $502.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Truist Financial increased their target price on MasTec from $518.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Roth Capital reiterated a “buy” rating and issued a $450.00 target price on shares of MasTec in a research note on Monday, May 4th.

Check Out Our Latest Stock Report on MTZ

MasTec Stock Down 5.9% Shares of MasTec stock opened at $337.55 on Thursday. MasTec has a fifty-two week low of $160.08 and a fifty-two week high of $441.43. 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 firm has a market cap of $26.67 billion, a P/E ratio of 59.12 and a beta of 1.77. The business has a 50-day moving average price of $373.59 and a 200 day moving average price of $330.51.

MasTec (NYSE:MTZ – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 34.5% on a year-over-year basis. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. On average, sell-side analysts forecast that MasTec will post 9.18 earnings per share for the current fiscal year.

Insider Transactions at MasTec In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $371.17, for a total transaction of $2,412,605.00. Following the completion of the transaction, the director directly owned 10,816 shares of the company’s stock, valued at $4,014,574.72. The trade was a 37.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’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 completion of the transaction, the director owned 30,646 shares of the company’s stock, valued at approximately $12,779,382. This trade represents a 8.92% decrease in their position. The SEC filing for this sale provides additional information. 21.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On MasTec Several hedge funds and other institutional investors have recently made changes to their positions in MTZ. Victory Capital Management Inc. increased its position in 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 acquiring an additional 1,690,896 shares during the period. Peconic Partners LLC raised its stake in MasTec by 113.3% during the 4th quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock valued at $347,792,000 after acquiring an additional 850,000 shares in the last quarter. Coatue Management LLC acquired a new position in MasTec during the 4th quarter worth $147,357,000. Merewether Investment Management LP boosted its position in MasTec by 59.8% during the 3rd quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company’s stock worth $184,557,000 after acquiring an additional 324,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in MasTec by 71.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,886 shares of the construction company’s stock worth $155,965,000 after acquiring an additional 304,358 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Company Profile (Get 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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Key Takeaways MasTec acquired Superior for about $1.65B to expand electrical contracting capabilities and scale.MTZ adds nearly 3,000 employees to support larger, more complex mission-critical infrastructure projects.Superior strengthens MTZ's platform for growing demand across data centers, power and critical infrastructure. MasTec, Inc. (MTZ - Free Report) has completed the acquisition of The Superior Group, a full-service electrical contractor focused on critical infrastructure, in a transaction valued at approximately $1.65 billion. The deal expands MasTec's capabilities in electrical contracting and adds nearly 3,000 employees, strengthening its ability to execute larger and more complex projects. The acquisition also aligns with rising investment in data centers, power systems and other mission-critical infrastructure, where demand for skilled contractors continues to grow.

Superior Acquisition Expands MTZ's Infrastructure PlatformThe addition of Superior broadens MasTec's presence across mission-critical infrastructure by combining the former's electrical expertise with the latter's existing operations. The expanded platform is expected to improve MasTec's ability to support projects both inside and outside data center facilities while serving customers across power and other critical infrastructure markets. The acquisition also brings an experienced leadership team, which could enhance execution capabilities as project sizes and customer requirements continue to increase.

The transaction also advances MasTec's strategy of building a larger infrastructure capacity platform to serve accelerating demand for data centers, power and other mission-critical infrastructure. The company believes the combined operations will strengthen its ability to support customers across these markets while maintaining a disciplined approach to capital allocation.

MTZ Benefits From Growing Infrastructure DemandGrowing investment in AI-driven data centers, grid modernization, communications networks and power infrastructure is creating a favorable environment for infrastructure contractors. MasTec is benefiting from these trends through its broad capabilities across communications, power delivery, clean energy and infrastructure markets. The company also sees increasing opportunities in mission-critical projects, where demand for integrated construction and project management services continues to rise.

Strong customer demand is supporting healthy project activity across these end markets. As of March 31, 2026, MasTec reported a record 18-month backlog of approximately $20.3 billion, up 28% year over year and 7% sequentially. The company believes the diversified platform, growing project pipeline and integrated service offerings position it well to capitalize on rising infrastructure spending. The acquisition of Superior further complements these capabilities by expanding MasTec's electrical contracting expertise in mission-critical infrastructure.

MTZ Price PerformanceShares of this Florida-based infrastructure construction company have surged 37.6% in the past six months, outperforming the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 index.

Image Source: Zacks Investment Research

MasTec Stock’s Zacks Rank & Other Key PicksMasTec currently flaunts a Zacks Rank #1 (Strong Buy).

Here are some other top-ranked stocks from the same sector.

Argan, Inc. (AGX - Free Report) currently sports a Zacks Rank 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Argan delivered a trailing four-quarter earnings surprise of 40.5%, on average. The stock has surged 58.4% in the past six months. The Zacks Consensus Estimate for Argan’s fiscal 2027 sales and EPS indicates growth of 38% and 29.4%, respectively, from a year ago.

Sterling Infrastructure, Inc. (STRL - Free Report) presently flaunts a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 29.1%, on average. Shares of Sterling have risen 78.6% in the past six months.

The Zacks Consensus Estimate for Sterling’s 2026 sales and EPS indicates growth of 59.2% and 75.7%, respectively, from the prior-year levels.

Dycom Industries, Inc. (DY - Free Report) currently sports a Zacks Rank of 1. It delivered a trailing four-quarter earnings surprise of 25%, on average. Dycom stock has gained 8.2% in the past six months.

The Zacks Consensus Estimate for Dycom’s fiscal 2027 sales and EPS implies an increase of 37.2% and 36.6%, respectively, from a year ago.

Key Takeaways MTZ reported a record $20.3B 18-month backlog, supported by power and clean energy demand.PRIM is expanding utilities and electrical capabilities, despite renewable project execution challenges.MTZ saw rising earnings estimates, while PRIM's 2026 and 2027 estimates declined over the past 30 days. Infrastructure investment across power delivery, communications, renewable energy, natural gas generation and civil construction continues to create opportunities for contractors with broad technical capabilities and strong execution. Growing electricity demand from AI and data center development, grid modernization, transmission expansion, broadband deployment and the need for more reliable energy infrastructure are supporting a healthy pipeline of large and complex projects. Within this backdrop, MasTec, Inc. (MTZ - Free Report) and Primoris Services Corporation (PRIM - Free Report) have emerged as two well-positioned infrastructure contractors serving many of the same end markets.

MasTec and Primoris provide engineering, procurement, construction and maintenance services across energy, utility and transportation infrastructure while executing turnkey solutions for complex projects. Both companies continue to emphasize long-term customer relationships, disciplined project selection and expanding opportunities across power, communications and mission-critical infrastructure, positioning each to benefit from the ongoing infrastructure investment cycle.

The Case for MasTec StockThis Florida-based infrastructure construction company is benefiting from rising investment across grid modernization, renewable generation, communications networks and AI-driven data center infrastructure. Strong customer activity and healthy bidding opportunities continue to support project awards across multiple end markets. As of March 31, 2026, MasTec reported a record 18-month backlog of approximately $20.3 billion, up 28% year over year and 7% sequentially, supported by broad-based demand across the Clean Energy and Infrastructure and Power Delivery segments. Total company book-to-bill reached 1.4x in the first quarter, reinforcing long-term revenue visibility.

Power infrastructure remains another important growth driver as utilities expand transmission networks and modernize the electric grid to meet rising electricity demand. In the first quarter of 2026, the Power Delivery segment’s revenues increased 16% year over year, while EBITDA grew 40%. At the same time, growing investment in AI infrastructure is creating opportunities across turnkey data centers, fiber connectivity, telecommunications infrastructure and power delivery, allowing MasTec to provide integrated solutions across multiple operating segments.

Renewable energy is also contributing to the company's growth outlook. In the first quarter of 2026, renewable revenues increased more than 60% year over year, while backlog expanded for an 11th consecutive quarter. Strong bookings, ongoing customer development activity and increasing demand for additional power generation capacity continue to strengthen project visibility across the Clean Energy and Infrastructure business.

Looking ahead, MasTec appears well positioned to capitalize on favorable investment trends across power infrastructure, renewable energy and AI-driven digital infrastructure. Healthy bidding activity, expanding customer demand and the company's diversified infrastructure platform, together with its record backlog, provide a strong foundation for long-term revenue visibility and sustained project growth.

The Case for Primoris StockThis Texas-based specialty infrastructure contractor is benefiting from rising investment across utility infrastructure, natural gas generation, communications networks and data center development. Strong customer demand continues to support project activity across its core end markets. As of March 31, 2026, Primoris reported a backlog of $11.6 billion, while Utilities backlog increased $476 million from year-end, supported by continued growth in master service agreement work and expanding utility capital programs focused on grid reliability and capacity expansion. These trends provide greater visibility into future revenue opportunities and reinforce the company's long-term growth outlook.

Utilities remains the company's primary growth driver as increasing transmission, substation and gas infrastructure work supports higher activity levels. In the first quarter of 2026, Utilities revenues increased 12.3% year over year, while gross margin improved to 9.8% from 9.2% in the prior-year period. Growing investment in data center infrastructure is also creating opportunities across communications, electrical and power delivery services. The PayneCrest acquisition further strengthens Primoris' electrical capabilities, broadening its ability to support data centers, industrial facilities, power infrastructure and other complex construction projects.

However, Primoris continues to address execution challenges on a limited number of renewable energy projects, which weighed on first-quarter profitability. Labor constraints, project redesigns and weather-related disruptions affected project execution, while the timing of certain project awards shifted some expected activity later into the year.

Even so, Primoris expects improving revenues, margins and backlog as project activity accelerates across its core markets. Continued investment in utility infrastructure, natural gas generation, communications networks and data center development, together with expanding electrical capabilities through PayneCrest, positions the company to benefit from long-term infrastructure spending trends.

MasTec Outpaces Infrastructure PeersBoth MasTec and Primoris operate in the infrastructure construction space, but their stock performance has diverged sharply in the year-to-date (“YTD”) period. MasTec’s shares have gained 56.8%, significantly outperforming both the Zacks Building Products - Heavy Construction industry, which has advanced 28.7%, and the Zacks Construction sector, up 11%.

In contrast, Primoris’ shares have declined 29.1% over the same period, reflecting a much weaker performance despite favorable long-term infrastructure spending trends. The sharp difference in returns suggests investors have shown greater confidence in MasTec's execution, backlog strength and exposure to high-growth infrastructure markets.

MTZ vs PRIM Price Performance (YTD)
Image Source: Zacks Investment Research

Considering valuation, MasTec is trading above Primoris on a forward 12-month price-to-earnings (P/E) ratio basis.

MTZ vs PRIM Valuation (P/E F12M)
Image Source: Zacks Investment Research

Comparing EPS Estimate Trends: MTZ vs. PRIMThe Zacks Consensus Estimate for MasTec’s 2026 and 2027 earnings estimates has moved upward in the past 30 days. The revised estimates for 2026 and 2027 imply year-over-year growth of 46.3% and 52.7%, respectively.

EPS Trend of MTZ
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Primoris’ 2026 and 2027 earnings has declined in the past 30 days. The 2026 earnings estimate implies a year-over-year decline of 60%, whereas the same for 2027 indicates year-over-year growth of 145.2%.

EPS Trend of PRIM
Image Source: Zacks Investment Research

Which Infrastructure Stock Is the Better Buy Now?MasTec and Primoris are both positioned to benefit from long-term investment across power infrastructure, communications, renewable energy and data center development. MTZ stands out with a record backlog, strong momentum in its Power Delivery business and expanding opportunities tied to AI-driven infrastructure. Primoris also has a favorable long-term outlook, supported by growth in Utilities and communications, though near-term execution challenges in the Renewables business and weaker earnings estimate revisions may limit its upside.

With MasTec sporting a Zacks Rank #1 (Strong Buy) and Primoris carrying a Zacks Rank #3 (Hold), the former appears to be the better investment at this stage. The company's record backlog, improving earnings outlook, diversified infrastructure platform and stronger exposure to power delivery, renewable energy and AI-related infrastructure provide greater revenue visibility and position it to capitalize on favorable infrastructure spending trends. You can see the complete list of today’s Zacks #1 Rank stocks here.

3 Stocks Cashing In on AI While Everyone Watches NVIDIAMasTec NYSE: MTZ said it has entered into a definitive agreement to acquire The Superior Group, an electrical infrastructure contractor focused on data centers and other mission-critical markets, in a transaction valued at approximately $1.65 billion upfront.

Chief Executive Officer Jose Mas said on the conference call that the acquisition expands MasTec’s position in infrastructure tied to artificial intelligence, cloud computing and digital infrastructure. He described Superior as “one of the premier electrical infrastructure contractors” serving hyperscalers, data center developers and mission-critical customers across the United States.

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3 Energy Stocks to Buy as AI Power Demand Surges—and 2 to Avoid“We believe this represents a generational infrastructure investment opportunity for the companies with the capabilities, skilled workforce, and track record to help build it,” Mas said.

Deal Terms and Financing Chief Financial Officer Paul DiMarco said the purchase price consists of $1.175 billion in cash and $475 million in MasTec common stock, along with a performance-based earn-out tied to Superior’s financial results over the three years after closing. MasTec expects to issue approximately 1.2 million shares as part of the equity consideration.

This infrastructure construction stock: Is it ready to pop?DiMarco said MasTec expects to fund the cash portion through cash on hand, borrowings under its existing credit facility and delayed-draw term loan facilities arranged for the transaction. The company expects the deal to close later this month after regulatory clearance.

The upfront consideration represents 6.9 times Superior’s expected 2026 EBITDA, DiMarco said. In response to an analyst question, Mas said MasTec expects the earn-out to add about one additional turn to the upfront multiple, depending on Superior’s performance. He added that the earn-out is uncapped and based on performance targets over three years.

Expected Financial Contribution MasTec said it expects the acquisition to be immediately accretive to revenue, adjusted EBITDA, earnings per share and cash flow from operations.

For 2026, MasTec expects Superior to contribute approximately five months of earnings to consolidated results, including:

$800 million to $900 million of revenue; $100 million to $150 million of adjusted EBITDA; and $0.50 to $0.65 of adjusted earnings per share. For the full year 2026, Superior is projected to generate approximately $1.6 billion to $1.7 billion of revenue and $225 million to $250 million of adjusted EBITDA. Looking ahead to 2027, MasTec expects Superior to generate $2.2 billion to $2.5 billion of revenue and $250 million to $275 million of adjusted EBITDA.

DiMarco said the expectations are preliminary, reflect a conservative approach and do not include revenue synergies, cross-selling opportunities or operational benefits from combining the businesses. Superior will become a new operating group within MasTec, and its results are expected to be reflected in the Power Delivery segment.

Data Center and Power Infrastructure Focus Mas said the transaction strengthens MasTec’s position in markets where power infrastructure, communications infrastructure and data center development are converging. He said MasTec already delivers critical infrastructure that brings power, communications and energy to data center campuses, while Superior adds capabilities “inside the campus” through electrical construction, integrated systems, prefabrication, commissioning support and maintenance services.

Mas said the combination gives MasTec a broader offering across the infrastructure value chain. He said customers increasingly want larger, integrated partners that can self-perform work, mobilize labor at scale and deliver complex projects with speed and reliability.

In response to a question from Citigroup analyst Andy Kaplowitz, Mas said MasTec has historically performed much of the work outside the building, while Superior performs work inside the building. He said the combination could allow MasTec to offer a more turnkey service to customers, including general contractors.

Superior’s Workforce and Growth Profile Superior has approximately 3,000 employees. Mas said access to skilled labor is one of the most important competitive advantages in the industry and described Superior’s workforce as one of the company’s most attractive assets.

During the Q&A, Mas said Superior is currently an all-union business and characterized the transaction as “a bet on labor scarcity.” He said Superior’s workforce has grown almost 400% over the last few years and that the company has shown a strong ability to recruit, train and deploy skilled electrical labor.

Mas also said Superior has grown 100% organically, with no history of acquisitions contributing to its recent expansion. He said the business has operated primarily in three states in recent years, but has signed contracts that will expand it into five states next year, with the potential for additional state expansion after that.

Asked about Superior’s backlog, Mas said MasTec conducted project-by-project due diligence and has “enormous conviction” in its 2027 expectations. He said Superior has five large customers and a blue-chip customer base, adding that MasTec expects backlog to grow significantly through the balance of the year.

Balance Sheet Outlook DiMarco said MasTec expects pro forma net leverage to be modestly above two times at closing, but expects net leverage to decline below two times by the end of 2026 due to the combined company’s expected earnings and cash flow generation.

He said the transaction should generate a low double-digit return on invested capital in the first year and support MasTec’s stated target of 16% in 2028. DiMarco also said MasTec remains committed to maintaining strong liquidity and preserving its investment-grade credit profile.

Mas said the company sees the data center build-out as still being in its early stages, based on conversations with customers, hyperscalers and advisors during due diligence. He acknowledged that the market may see “ups and downs,” but said MasTec remains bullish on the long-term opportunity.

About MasTec NYSE: MTZMasTec, 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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MasTec Inc. MTZ shares climbed about 6% on Wednesday after the infrastructure engineering and construction company announced a $1.65 billion acquisition of electrical contractor The Superior Group.

The deal expands its presence in the rapidly growing data center infrastructure market.

The cash-and-stock transaction, which is expected to close in mid-to-late July, subject to customary approvals, also prompted Mizuho to raise its price target on MasTec shares to $502 from $498 while maintaining an Outperform rating.

The acquisition is designed to strengthen MasTec's capabilities as companies continue investing heavily in artificial intelligence infrastructure, power networks and mission-critical facilities.

MasTec said it will acquire The Superior Group for approximately $1.65 billion, comprising $1.175 billion in cash, $475 million in MasTec stock and a 36-month earnout.

The transaction values Superior at roughly 6.9 times its estimated 2026 adjusted EBITDA.

Based in Columbus, Ohio, Superior is an IBEW-signatory electrical contractor employing approximately 3,000 people.

The company is projected to generate between $1.6 billion and $1.7 billion in revenue during 2026, while maintaining an EBITDA margin of 14% to 15%.

Around 90% of Superior's business is tied to data centers, including approximately 70% generated from hyperscale customers.

The company also has a backlog of $1.4 billion and operates a 300,000-square-foot prefabrication facility.

Following completion of the transaction, Superior will become part of MasTec's Power Delivery segment, where management expects the acquisition to help increase segment margins from roughly 9% to the low double digits.

MasTec said the acquisition strengthens its position in one of the fastest-growing areas of infrastructure spending as artificial intelligence continues driving investment in data centers and related power infrastructure.

The company has traditionally focused on "outside-the-fence" infrastructure, including power generation, transmission, substations and communications networks.

Superior expands those capabilities into "inside-the-fence" electrical systems, engineering and integrated building services.

"Superior expands our ability to serve one of the most compelling infrastructure opportunities in the market today—the ongoing buildout of data center, power and mission-critical infrastructure," MasTec CEO Jose Mas said.

Superior provides electrical design, engineering, prefabrication, modular manufacturing, construction, integrated systems and long-term maintenance services across data centers, healthcare, industrial and entertainment facilities.

MasTec expects the acquisition to contribute immediately to revenue, adjusted EBITDA, adjusted earnings per share and operating cash flow.

For the remainder of 2026, Superior is expected to contribute between $800 million and $900 million in revenue, adjusted EBITDA of $100 million to $115 million and adjusted earnings per share of $0.50 to $0.65.

For the full year, Superior is projected to generate between $1.6 billion and $1.7 billion in revenue alongside adjusted EBITDA of $225 million to $250 million.

Looking ahead to 2027, management projects revenue of $2.2 billion to $2.5 billion and adjusted EBITDA of $250 million to $275 million.

The acquisition also strengthens MasTec's relationships with hyperscalers, data center developers and technology customers while adding one of the largest self-performing electrical workforces in the United States.

MasTec said the transaction aligns with its broader capital allocation strategy of investing in high-growth infrastructure markets while maintaining financial flexibility.

The company expects to generate approximately $1 billion in operating cash flow during 2026, supporting future investments as demand for AI-driven digital infrastructure continues to expand.

MasTec, Inc. (MTZ) M&A Call Transcript

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) today announced that it has entered into a definitive agreement to acquire Electrical Specialists, Inc., d/b/a The Superior Group (“Superior”), a premier full-service electrical contractor focused on critical infrastructure (the “Transaction”). With a heritage dating to 1925 and headquartered in Columbus, Ohio, Superior has been led by the Stewart family since the mid-1980s, when Greg Stewart acquired an ownership interest. Under Bry.

MasTec, Inc. MTZ is currently trading at a premium compared with the Zacks Building Products - Heavy Construction industry, the broader Zacks Construction sector and the S&P 500 Index, with a forward 12-month price-to-earnings (P/E) ratio of 35.62. The industry's average currently is 26.35, with the sector's valuation at 21.49 and the S&P 500 Index at 21.07.

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AI infrastructure and data center investments remain key growth drivers for the Zacks Building Products – Heavy Construction industry in 2026, supported by rising demand for cloud computing, AI workloads, fiber connectivity and utility upgrades. Strong federal and state funding for transportation, water and energy infrastructure, along with investments in grid modernization, power transmission, natural gas and industrial projects, is further expanding the industry's multiyear project pipeline and improving revenue visibility. Within this favorable backdrop, companies such as EMCOR Group, Inc. (EME - Free Report) , MasTec (MTZ - Free Report) , Dycom Industries (DY - Free Report) and Tutor Perini Corporation (TPC - Free Report) are well positioned, benefiting from diversified capabilities, technical expertise and disciplined execution.

However, persistent skilled labor shortages continue to constrain project execution, increase wage costs and intensify competition for qualified workers. At the same time, larger and more complex projects, inflationary pressures, evolving project scopes, permitting delays and funding uncertainties are placing greater pressure on margins, making disciplined bidding, cost control and execution increasingly important for sustaining profitability.

Industry Description The Zacks Building Products - Heavy Construction industry consists of mechanical and electrical construction, industrial and energy infrastructure, as well as building service providers. This industry comprises heavy civil construction companies that specialize in the building and reconstruction of transportation projects, including highways, roads, bridges, airfields, ports and light rail. The companies serve commercial, industrial, utility and institutional clients. The industry players are engaged in the engineering, construction and maintenance of communications infrastructure, oil and natural gas pipelines, as well as processing facilities for energy and utility industries. These firms are also engaged in mining and dredging services in the United States and internationally.

4 Trends Shaping the Future of the Heavy Construction Industry AI Infrastructure & Data Center Demand Drive Growth: AI infrastructure remains one of the strongest tailwinds for the U.S. Heavy Construction industry in 2026. Rapid growth in cloud computing, AI workloads and digital transformation is fueling demand for data centers, which require large-scale site work, electrical systems, mechanical systems, cooling infrastructure, fiber connectivity and utility upgrades. These projects are also expanding opportunities across adjacent areas such as grid connections, substations, concrete work and long-haul fiber networks. Rising demand for low-latency connectivity between data centers is further supporting telecom and fiber construction. Given the multiyear nature of these investments, contractors with scale, skilled labor and complex project execution capabilities are likely to benefit from strong backlog visibility and sustained bidding activity.

Infrastructure, Power & Energy Spending Stay Strong: Public infrastructure and energy-related construction remain major growth drivers for 2026. Federal and state spending continues to support highways, bridges, transit systems, airports, ports, water and wastewater projects. At the same time, rising electricity demand is driving investment in transmission lines, substations, grid hardening and reliability upgrades. Energy security needs are also supporting natural gas, LNG, power generation and industrial infrastructure projects. These trends are creating a broad-based construction pipeline beyond data centers. Large public and energy projects typically span several years, giving the industry better revenue visibility. The combination of aging infrastructure, electrification, industrial reshoring and energy demand should keep project activity elevated through 2026.

Labor Shortages Remain a Key Constraint: Skilled labor availability remains one of the biggest headwinds for the U.S. heavy construction industry in 2026. Demand is rising across data centers, utilities, transportation, energy and public infrastructure at the same time, increasing competition for qualified workers. Large, complex projects require experienced electricians, mechanical workers, civil crews, project managers and safety professionals. A tight labor market can limit how quickly contractors scale, delay project schedules and raise wage costs. Companies are investing more in training, recruitment and workforce development, but labor supply remains a structural issue. This is especially important as customers seek execution certainty on multiyear projects and may prefer contractors that can reliably secure skilled crews.

Project Complexity, Costs & Timing Pressure Margins: Despite strong demand, margin pressure remains a key industry headwind. Heavy construction projects are becoming larger and more complex, especially in AI infrastructure, power, transit and public works. These projects often involve evolving designs, changing scopes, tight schedules and coordination across several trades. Contract mix can also affect profitability, as cost-plus, construction management and early-stage design projects may carry lower margins than traditional fixed-price work. Inflation in materials, equipment and subcontractor costs further increases the need for disciplined bidding and contract management. Permitting delays, funding approvals and customer timing decisions can also shift revenue recognition. As a result, execution discipline remains critical to converting strong demand into profitable growth.

Zacks Industry Rank Indicates Bright Prospects The Zacks Building Products - Heavy Construction industry is a nine-stock group within the broader Zacks Construction sector. The industry currently carries a Zacks Industry Rank #38, which places it in the top 15% of more than 250 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bullish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a higher earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential. Since April 2026, the industry’s earnings estimates for 2027 have increased to $11.26 per share from $11.06.

Before highlighting a few stocks worth considering for your portfolio, let’s first review the industry’s recent stock market performance and valuation trends.

Industry Outperforms Sector & the S&P 500 The Zacks Building Products - Heavy Construction industry has performed better than the broader Zacks Construction sector and the Zacks S&P 500 Composite over the past year.

Stocks in this industry have collectively gained 79% compared with the broader sector’s 22.8% rise. Meanwhile, the S&P 500 has jumped 22.9% in the said period.

One-Year Price Performance

Industry's Current Valuation On the basis of the forward 12-month price-to-earnings ratio, which is a commonly used multiple for valuing heavy construction stocks, the industry is currently trading at 27.74X versus the S&P 500’s 21.13X and the sector’s 22.34X.

Over the past five years, the industry has traded as high as 28.44X, as low as 12.90X and at a median of 17.61X, as the chart below shows.

Industry’s P/E Ratio (Forward 12-Month) Versus S&P 500

Industry’s P/E Ratio (Forward 12-Month) Versus Sector

4 Heavy Construction Stocks to Buy Now Here, we have discussed four stocks from the industry that have solid growth potential.

MasTec: Based in Coral Gables, FL, this is a leading infrastructure construction company operating mainly throughout North America. MasTec's growth outlook is supported by strong, long-duration infrastructure investment across multiple end markets. The company expects sustained demand from AI-driven data center construction and connectivity, electric grid modernization, power transmission, broadband expansion under the BEAD program, renewable energy, gas-fired power generation and natural gas pipeline infrastructure. Record backlog, improving book-to-bill ratios and growing customer preference for turnkey project execution provide strong revenue visibility. Management also highlighted increasing opportunities in data center construction management, strategic acquisitions and expanding self-perform capabilities, positioning MasTec for sustained growth through 2026, 2027 and beyond.

MasTec, currently carrying a Zacks Rank #1 (Strong Buy), has gained 130.7% over the past year. Earnings estimates for 2026 have increased to $8.90 from $8.60 per share over the past 60 days. Earnings for 2026 are expected to grow 35.9% from a year ago. MTZ surpassed earnings estimates in all the trailing four quarters, with the average surprise being 15.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Price and Consensus: MTZ

Dycom: Headquartered in Palm Beach Gardens, FL, this is a specialty contracting firm operating in the telecom industry. Dycom's growth outlook remains strong, supported by accelerating investments in digital infrastructure and fiber connectivity. The company continues to benefit from expanding fiber-to-the-home deployments, rising long-haul and middle-mile fiber builds, and robust data center construction driven by hyperscale demand. Management highlighted record backlog growth, longer-duration customer contracts that improve revenue visibility and geographic expansion across communications markets. The acquisition of National Technology Integrators further strengthens Dycom's data center and low-voltage capabilities while creating cross-selling opportunities. Additionally, the gradual rollout of the BEAD broadband program is expected to provide incremental growth from calendar 2027 onward, reinforcing the company's multiyear growth trajectory.

Dycom, currently carrying a Zacks Rank #1, has gained 90.4% over the past year. Earnings estimates for fiscal 2027 have increased to $16.35 per share from $15.94 per share over the past 30 days. The estimated value for fiscal 2027 is expected to increase 36.6% from the previous year. DY surpassed earnings estimates in all the trailing four quarters, with the average surprise being 25%. Again, it carries an impressive VGM Score of B.

Price and Consensus: DY

EMCOR: Based in Norwalk, CT, EMCOR provides electrical and mechanical construction and related services in the United States and the United Kingdom. EMCOR has been gaining from sustained demand across mission-critical infrastructure markets and a record remaining performance obligation backlog that provides solid revenue visibility. The company continues to benefit from robust investments in AI-driven data centers, cloud infrastructure, healthcare, institutional facilities, water and wastewater projects, manufacturing and industrial construction, as well as the recovery in warehousing and logistics. Management also expects long-term growth from geographic expansion, disciplined acquisitions, expanded prefabrication capabilities, workforce development and increasing higher-margin service and maintenance work, while maintaining disciplined project execution and contract management.

EMCOR, currently carrying a Zacks Rank #1, has gained 48.5% over the past year. Earnings estimates for 2026 have increased to $29.37 per share from $28.99 per share over the past 30 days. Earnings for 2026 are expected to grow 13.5% from a year ago. EMCOR surpassed earnings estimates in three of the trailing four quarters and missed on one occasion, with the average surprise being 10.4%.

Price and Consensus: EME

Tutor Perini: Based in Sylmar, CA, this company is a construction company serving public and private clients. Tutor Perini has been benefiting from its record $19.8 billion backlog (as of first-quarter 2026), including nine recently secured mega projects that provide multi-year revenue visibility. Management expects double-digit revenue growth in 2026 and even stronger earnings in 2027 as these higher-margin projects ramp up. The company also sees a robust pipeline of large bidding opportunities across transportation, healthcare, military infrastructure, hospitality and gaming projects in the United States and the Indo-Pacific region. Incremental work on existing contracts, favorable macroeconomic tailwinds, disciplined bidding for higher-margin projects and strong public and private infrastructure funding further strengthen its long-term growth prospects.

Tutor Perini, currently carrying a Zacks Rank #2 (Buy), has gained 67.5% over the past year. Earnings estimates for 2026 have risen to $5.18 from $4.72 per share over the past 60 days. Earnings for 2026 are expected to grow 20.8% from a year ago. TPC surpassed earnings estimates in all the trailing four quarters, with the average surprise being 107.4%. Again, it carries an impressive VGM Score of A.

Price and Consensus: TPC

Published in construction

MasTec (MTZ - Free Report) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

As such, the Zacks rating upgrade for MasTec is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For MasTec, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for MasTecThis utility contractor is expected to earn $8.90 per share for the fiscal year ending December 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for MasTec. Over the past three months, the Zacks Consensus Estimate for the company has increased 3.5%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of MasTec to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

CORAL GABLES, Fla.--(BUSINESS WIRE)--MasTec, Inc. (NYSE: MTZ) today announced that Mr. Manny Miranda has joined MasTec's Board of Directors as a Class II Director. With more than 40 years of experience in the utility industry, Mr. Miranda brings deep expertise across virtually every aspect of electric and natural gas utility operations. Throughout his career at Florida Power & Light and Florida City Gas, he held leadership responsibilities spanning transmission, substations, distribution, e.