TD Cowen Cuts MasTec (NYSE:MTZ) Price Target to $420.00

MasTec (NYSE:MTZ) had its price objective trimmed by TD Cowen from $470.00 to $420.00 in a research note issued to investors on Monday morning, MarketBeat reports. The firm currently has a buy rating on the construction company’s stock.

A number of other brokerages have also weighed in on MTZ. JPMorgan Chase & Co. lifted their target price on MasTec from $471.00 to $491.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded MasTec from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Robert W. Baird decreased their price objective on MasTec from $475.00 to $363.00 and set an “outperform” rating for the company in a report on Monday. Mizuho upped their price objective on shares of MasTec from $498.00 to $502.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, B. Riley Financial reiterated a “buy” rating on shares of MasTec in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $431.42.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $267.50 on Monday. The firm’s 50 day simple moving average is $358.38 and its 200-day simple moving average is $334.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.37 and a current ratio of 1.40. MasTec has a one year low of $167.66 and a one year high of $441.43. The firm has a market cap of $21.48 billion, a PE ratio of 42.66 and a beta of 1.81.

MasTec (NYSE:MTZ) last announced 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 during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the firm posted $1.49 EPS. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. MasTec has set its Q3 2026 guidance at 2.980-2.980 EPS and its FY 2026 guidance at 9.300-9.300 EPS. As a group, equities analysts predict that MasTec will post 8.97 EPS for the current year.

Insider Activity

In other news, Director Ernst N. Csiszar sold 6,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the sale, the director owned 10,816 shares of the company’s stock, valued at $4,014,574.72. This trade represents a 37.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On MasTec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC increased its holdings in MasTec by 2.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,013 shares of the construction company’s stock worth $326,000 after acquiring an additional 28 shares in the last quarter. Aigen Investment Management LP lifted its holdings in MasTec by 3.8% during the fourth quarter. Aigen Investment Management LP now owns 1,041 shares of the construction company’s stock valued at $226,000 after purchasing an additional 38 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of MasTec by 1.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,927 shares of the construction company’s stock valued at $636,000 after purchasing an additional 43 shares during the period. Everhart Financial Group Inc. grew its position in shares of MasTec by 5.4% in the second quarter. Everhart Financial Group Inc. now owns 874 shares of the construction company’s stock valued at $364,000 after purchasing an additional 45 shares during the period. Finally, Motley Fool Asset Management LLC increased its stake in shares of MasTec by 3.7% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,311 shares of the construction company’s stock worth $285,000 after purchasing an additional 47 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

About MasTec

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.