# MasTec, Inc. (MTZ)

> Source: Nexqual · https://nexqual.com/MTZ · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, MasTec, Inc. (MTZ), nexqual.com/MTZ" · informational, not investment advice.

**Price:** USD 171.55 (-5.20% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 180.96 · day 169.56–178.09 · 52w 169.56–441.43 · market cap $13.8B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $16.1B, net income $494M (3.1% margin), free cash flow $245M (SEC filings).
- Valuation: P/E 27.9x (avg 54.5x at the last 2 fiscal year-ends), net debt $2.42B.
- 2 of 80 tracked superinvestors hold MTZ (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $3.7M; 2 not under a Rule 10b5-1 plan ($3.7M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.81 on a 1–5 scale) (21 analysts), mean target USD 364.9 (range 240–518).
- Total return with dividends: 1Y -16.3% vs S&P 500 +14.9%; 5Y +93.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 2.96, revenue estimate $4.95B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.95B | $9.78B | $12.0B | $12.3B | $14.3B | $16.1B |
| Net income | $329M | $33.4M | -$49.9M | $163M | $399M | $494M |
| EPS (diluted) | $4.45 | $0.42 | -$0.64 | $2.06 | $5.07 | — |
| Free cash flow | $623M | $88.9M | $494M | $973M | $286M | $245M |
| Net margin | 4.1% | 0.3% | -0.4% | 1.3% | 2.8% | 3.1% |
| Revenue growth | +25.8% | +23.0% | +22.7% | +2.6% | +16.2% | — |
| Cash + short-term investments | $361M | $371M | $530M | $400M | $396M | — |
| Total debt | $2.01B | $3.22B | $3.07B | $2.22B | $2.33B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 27.9x · P/S 0.9x · EV/Sales 1.0x · P/FCF 56.3x · P/B 4.0x · FCF yield 1.78% · Earnings yield 3.59% · Buyback yield (TTM) 0.00% · Net debt $2.42B · EV $16.2B
P/E at fiscal year-ends: Dec 2025 42.9x, Dec 2024 66.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold MTZ. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Stephen Mandel | Lone Pine Capital | 3.42% | $560M | Reduced -12.1% |
| Daniel Loeb | Third Point | 2.60% | $121M | Reduced -9.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-03 | Csiszar Ernst N | Director | 6,500 | $2.4M | 37.5% | No | Too little history (no open-market trades in 2023) |
| 2026-05-04 | Campbell C Robert | Director | 3,000 | $1.3M | 8.9% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.81 on a 1–5 scale), 21 analysts; mean target USD 364.9 (low 240, high 518).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | JP Morgan | Target lowered | Overweight | $369 → $303 |
| 2026-10-19 | Barclays | Target lowered | Overweight | $340 → $320 |
| 2026-10-15 | Keybanc | Target lowered | Overweight | $371 → $320 |
| 2026-10-08 | Stifel | Target lowered | Buy | $376 → $305 |
| 2026-10-05 | Truist Securities | Target lowered | Buy | $428 → $380 |
| 2026-10-05 | TD Cowen | Target lowered | Buy | $420 → $320 |
| 2026-09-28 | Piper Sandler | Target lowered | Overweight | $321 → $313 |
| 2026-09-09 | Piper Sandler | Initiated | Overweight | $321 |
| 2026-08-12 | Goldman Sachs | Target lowered | Buy | $508 → $409 |
| 2026-08-04 | UBS | Target lowered | Buy | $453 → $410 |
| 2026-08-04 | Mizuho | Target lowered | Outperform | $502 → $457 |
| 2026-08-03 | Citigroup | Target lowered | Buy | $483 → $408 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -16.3% | +93.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -16.3% | +14.1% |
| Volatility (annualized) | 53.3% | 44.5% |
| Max drawdown | -60.8% (May 2026→Oct 2026) | -58.9% (Apr 2026→Oct 2026) |

## Peers (Engineering & Construction)
STRL (Sterling Infrastructure, Inc.) USD 372.83 -9.72% · J (Jacobs Solutions Inc.) USD 146.26 +2.65% · APG (APi Group Corporation) USD 38.8 -3.51% · IESC (IES Holdings, Inc.) USD 220.75 -6.70% · TTEK (Tetra Tech, Inc.) USD 36.81 +5.02% · STN (Stantec Inc) USD 72.77 +3.63%

## More
Full page: https://nexqual.com/MTZ · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in MTZ's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/15615/000001561526000020/mtz-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | AT&T (T) | "One such example is the AT&T and BlackRock Alternatives private equity fiber partnership, Gigapower LLC" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Clean Energy and Infrastructure | $1.62B | 37.1% | +43.4% |
| Power Delivery | $1.25B | 28.5% | +19.1% |
| Communications | $888.9M | 20.3% | +6.2% |
| Pipeline Infrastructure | $642.8M | 14.7% | +19.1% |
| Total revenue | $4.37B | 100% | — |

## Customer concentration

Period ended 2026-06-30: 15% of revenue from unnamed direct customers (10-Q, filed 2026-07-30).

## Company outlook (8-K filed 2026-07-30)

- "Increased Full Year Adjusted Diluted EPS guidance to $9.30, a 42% year-over-year increase Coral Gables, FL, July 30, 2026 — MasTec, Inc."
- "(NYSE: MTZ) today announced second quarter 2026 financial results and updated full year 2026 financial guidance."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.96 | $3.09 | -4.1% | $4.95B | 17 |
| Next quarter (ends 2026-12-31) | $2.69 | $2.81 | -4.1% | $5.04B | 16 |
| Current fiscal year (ends 2026-12-31) | $9.28 | $9.52 | -2.5% | $18.20B | 20 |
| Next fiscal year (ends 2027-12-31) | $12.38 | $13.81 | -10.3% | $21.49B | 19 |