MasTec (NYSE:MTZ) Price Target Cut to $380.00 by Analysts at Truist Financial

MasTec (NYSE:MTZ) had its price target reduced by Truist Financial from $428.00 to $380.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other analysts have also issued reports about the stock. Mizuho cut their target price on shares of MasTec from $502.00 to $457.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Cantor Fitzgerald increased their price target on shares of MasTec from $545.00 to $581.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Guggenheim lifted their price target on shares of MasTec from $480.00 to $518.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. TD Cowen cut their price objective on shares of MasTec from $420.00 to $320.00 and set a “buy” rating for the company in a research report on Monday. Finally, Morgan Stanley set a $369.00 price objective on shares of MasTec in a research report on Friday, July 31st. Nineteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $414.20.

MasTec Trading Up 1.9%

Shares of NYSE:MTZ opened at $220.04 on Monday. The stock has a market capitalization of $17.67 billion, a price-to-earnings ratio of 35.09 and a beta of 1.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. The stock’s 50-day simple moving average is $248.12 and its two-hundred day simple moving average is $326.30. MasTec has a 52-week low of $182.34 and a 52-week high of $441.43.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.01). MasTec had a net margin of 3.07% and a return on equity of 18.08%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. Analysts expect that MasTec will post 8.9 EPS for the current year.

Hedge Funds Weigh In On MasTec

Several large investors have recently added to or reduced their stakes in MTZ. BlackRock Inc. purchased a new stake in shares of MasTec in the second quarter worth $3,178,069,000. Hill City Capital LP purchased a new position in shares of MasTec during the 2nd quarter valued at $896,609,300. Victory Capital Management Inc. boosted its holdings 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 worth $573,304,000 after buying an additional 1,690,896 shares during the period. Bank of America Corp DE bought a new position in MasTec in the 2nd quarter worth $555,825,000. Finally, First Trust Advisors LP boosted its holdings in MasTec by 7.6% in the 1st quarter. First Trust Advisors LP now owns 1,411,584 shares of the construction company’s stock worth $454,163,000 after buying an additional 100,151 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Company Profile

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

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