Topic: How To Invest

Q: What are the prospects for MasTec Inc.? Thank you.

Article Excerpt

A: MasTec Inc., $90.83, symbol MTZ on New York (Shares outstanding: 74.3 million; Market cap: $6.8 billion; www.mastec.com), is a leading infrastructure construction company operating mainly throughout North America and across a range of industries. The business’s primary activities include the engineering, installation, maintenance and upgrade of communications, energy, utility and other infrastructure. That includes wireless and wireline/fibre infrastructure, and customer fulfillment activities. It also extends to petroleum and natural gas pipeline infrastructure. Recent MasTec projects include the 1,172-mile Dakota Access Pipeline between North Dakota and Illinois, and the Kit Carson 51-megawatt wind farm in Burlington, Colorado. On May 5, 2021, the company announced that it would acquire INTREN LLC, a specialty contractor operating in the utilities sector. MasTec is paying $420 million in cash plus an extra payout if INTREN reaches certain earnings targets this year. INTREN provides electrical distribution network services to some of the largest utilities, municipalities, and cooperatives in the U.S. under multi-year agreements. Based in Illinois, INTREN was founded in…