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MTZ Mastec

MasTec, Inc. engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Power Generation and Industrial; and Other. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers. The Oil and Gas segment offers services on oil and natural gas pipelines and processing facilities for the energy, and utilities industries. The Electrical Transmission segment deals with the energy and utility industries. The Power Generation and Industrial segment covers energy, utility and other end-markets through the installation and construction of conventional and renewable power facilities. The Other segment comprises of equity investees, other small business units that perform construction, and other services for a variety of international end-markets. The company was founded by Jorge Mas Canosa in 1994 and is headquartered in Coral Gables, FL.

Company profile

Ticker
MTZ
Exchange
Website
CEO
Jose Mas
Employees
Incorporated
Location
Fiscal year end
Former names
BURNUP & SIMS INC
SEC CIK
IRS number
650829355

MTZ stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

25 Feb 21
22 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Mastec earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
29 Mar 21 Csiszar Ernst N Common Stock Sell Dispose S No No 91.0062 1,564 142.33K 25,000
23 Mar 21 Csiszar Ernst N Common Stock Sell Dispose S No No 89.9174 1,700 152.86K 26,564
18 Mar 21 Pita George Common Stock Grant Aquire A No No 0 19,489 0 185,696
18 Mar 21 Mas Jose Ramon Common Stock Grant Aquire A No No 0 57,926 0 3,192,582
18 Mar 21 Mas Jorge Common Stock Grant Aquire A No No 0 33,564 0 3,971,789

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 351 322 +9.0%
Opened positions 66 47 +40.4%
Closed positions 37 40 -7.5%
Increased positions 97 89 +9.0%
Reduced positions 139 142 -2.1%
13F shares
Current Prev Q Change
Total value 41.44B 2.57B +1509.7%
Total shares 61.39M 60.92M +0.8%
Total puts 448.3K 380.2K +17.9%
Total calls 393.2K 302.6K +29.9%
Total put/call ratio 1.1 1.3 -9.3%
Largest owners
Shares Value Change
BLK Blackrock 6.91M $470.87M -5.2%
Vanguard 5.77M $393.44M -2.2%
MCQEF Macquarie 4.17M $284.06M +0.9%
Dimensional Fund Advisors 3.04M $207.61M -3.2%
Boston Partners 2.76M $188.39M -2.7%
Nordea Investment Management Ab 2.33M $159.11M +30.1%
LSV Asset Management 2.28M $155.51M -3.6%
STT State Street 1.71M $116.58M -0.1%
GS Goldman Sachs 1.52M $103.35M -2.3%
Frontier Capital Management 1.44M $98.37M +516.3%
Largest transactions
Shares Bought/sold Change
Select Equity 1.4M +1.4M NEW
Frontier Capital Management 1.44M +1.21M +516.3%
PZN Pzena Investment Management 834.14K +834.14K NEW
PFG Principal Financial Group Inc - Registered Shares 167.3K -799.05K -82.7%
Norges Bank 780.22K +780.22K NEW
Hood River Capital Management 586.92K +586.92K NEW
Electron Capital Partners 546.55K +546.55K NEW
Nordea Investment Management Ab 2.33M +540.47K +30.1%
Aqr Capital Management 92.17K -499.86K -84.4%
Key 0 -474.36K EXIT

Financial report summary

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Risks
  • Risks Related to the Industries We Serve
  • Changes to laws, governmental regulations and policies, including governmental permitting processes and tax incentives, could affect demand for our services. Additionally, demand for construction services depends on industry activity and expenditure levels, which can be affected by a variety of factors. Our inability or failure to adjust to such changes or activity could result in decreased demand for our services and adversely affect our results of operations, cash flows and liquidity.
  • Many of the industries we serve are highly competitive and subject to rapid technological and regulatory changes, as well as customer consolidation, any of which could result in decreased demand for our services and adversely affect our results of operations, cash flows and liquidity.
  • Unfavorable market conditions, market uncertainty, health outbreaks such as the COVID-19 pandemic, and/or economic downturns could reduce capital expenditures in the industries we serve or could adversely affect our customers, which could result in decreased demand or impair our customers’ ability to pay for our services.
  • Our failure to properly manage projects, or project delays, including those resulting from difficult work sites and environments, could result in additional costs or claims, which could have a material adverse effect on our operating results, cash flows and liquidity.
  • Our failure to recover adequately on claims against project owners, subcontractors or suppliers for payment or performance could have a material adverse effect on our financial results.
  • We may not accurately estimate the costs associated with services provided under fixed price contracts, which could impair our financial performance. Additionally, we recognize revenue for certain projects using the cost-to-cost method of accounting; therefore, variations of actual results from our assumptions could reduce our profitability.
  • We derive a significant portion of our revenue from a few customers, and the loss of one or more of these customers, or a reduction in their demand for our services, could impair our financial performance. In addition, many of our contracts, including our service agreements, do not obligate our customers to undertake any infrastructure projects or other work with us, and most of our contracts may be canceled on short or no advance notice.
  • Amounts included in our backlog may not result in actual revenue or translate into profits. Our backlog is subject to cancellation and unexpected adjustments and is, therefore, an uncertain indicator of future operating results.
  • Our business and operations, and the operations of our customers, may be adversely affected by epidemics or pandemics such as the COVID-19 pandemic.
  • We maintain a workforce based upon current and anticipated workloads. We could incur significant costs and reduced profitability from underutilization of our workforce if there is a significant reduction in the level of services we provide or if contract awards are delayed or not received.
  • Our financial results are based, in part, upon estimates and assumptions that may differ from actual results. In addition, changes in accounting principles may cause unexpected fluctuations in our reported financial information.
  • Our business is subject to operational risk, including from operational and physical hazards that could result in substantial liabilities and weaken our financial condition.
  • Our business is seasonal and affected by the spending patterns of our customers and timing of governmental permitting, as well as weather conditions and natural catastrophes, which exposes us to variations in quarterly results.
  • In the ordinary course of our business, we may become subject to lawsuits, indemnity or other claims, which could materially and adversely affect our business, results of operations and cash flows.
  • We rely on information, communications and data systems in our operations. Systems and information technology interruptions and/or data security breaches could adversely affect our ability to operate and our operating results or could result in harm to our reputation.
  • Our subcontractors and suppliers may fail, or be unable to, satisfy their obligations to us or other parties, or we may be unable to maintain these relationships, either of which could have a material adverse effect on our results of operations, cash flows and liquidity.
  • We may have additional tax liabilities associated with our domestic and international operations.
  • We could incur goodwill and intangible asset impairment charges, which could harm our profitability.
  • We are self-insured against many potential liabilities.
  • If we are unable to attract and retain qualified managers and skilled employees, we will be unable to operate efficiently, which could reduce our revenue, profitability and liquidity.
  • The use of a unionized workforce and any related obligations could subject us to liabilities that could adversely affect our liquidity, cash flows and results of operations.
  • A failure of our internal control over financial reporting could materially affect our business.
  • Risks Related to Regulation and Compliance
  • Our operations could affect the environment or cause exposure to hazardous substances. In addition, our properties could have environmental contamination, which could result in material liabilities.
  • We perform work in underground environments, which could affect the environment. A failure to comply with environmental laws could result in significant liabilities or harm our reputation, and new environmental laws or regulations could adversely affect our business.
  • We are subject to risks associated with climate change.
  • Our failure to comply with the regulations of federal, state and local agencies that oversee transportation and safety compliance could reduce our revenue, profitability and liquidity.
  • Acquisitions and strategic investments involve risks that could negatively affect our operating results, cash flows and liquidity and may not enhance shareholder value.
  • Our participation in strategic arrangements, including joint ventures and equity investments, exposes us to numerous risks.
  • Our existing operations in international markets, or expanding into additional international markets, may not be successful and could expose us to risks, including failure to comply with the U.S. Foreign Corrupt Practices Act and/or similar anti-bribery laws, which could harm our business and prospects.
  • Risks Related to Financing Our Business
  • We have a significant amount of debt, which could adversely affect our business, financial condition and results of operations or could affect our ability to access capital markets in the future. In addition, our debt contains restrictive covenants that may prevent us from engaging in transactions that might benefit us.
  • We may be unable to obtain sufficient bonding capacity to support certain service offerings, and the need for performance and surety bonds could reduce availability under our credit facility.
  • Risks Related to Our Common Stock
  • There may be future sales of our common stock or other dilution of our equity that could adversely affect the market price of our common stock and dilute your share ownership and could lead to volatility in our common stock price.
  • The market price of our common stock has been, and may continue to be, highly volatile.
  • A small number of our existing shareholders have the ability to influence major corporate decisions.
  • Our articles of incorporation and certain provisions of Florida law contain anti-takeover provisions that may make it more difficult to effect a change in our control.
Management Discussion
  • Revenue. For the year ended December 31, 2020, consolidated revenue totaled $6,321 million as compared with $7,183 million in 2019, a decrease of $862 million, or 12%. Revenue increases in our Clean Energy and Infrastructure segment of $493 million, or 48%, and in our Electrical Transmission segment of $93 million, or 22%, were offset by decreases in revenue in our Oil and Gas segment of $1,327 million, or 43%, and in our Communications segment of $107 million, or 4%. Acquisitions contributed $230 million in revenue for the year ended December 31, 2020 and organic revenue decreased by approximately $1,092 million, or 15%, as compared with 2019.
  • Communications Segment. Communications revenue was $2,512 million in 2020, as compared with $2,619 million in 2019, a decrease of $107 million, or 4%. Acquisitions contributed $156 million of revenue for the year ended December 31, 2020 and organic revenue decreased by approximately $262 million, or 10%, as compared with 2019. The decrease in organic revenue was primarily driven by a decrease in install-to-the-home and wireless revenue, including from the effects of the COVID-19 pandemic, offset, in part, by higher levels of wireline/fiber revenue.
  • Clean Energy and Infrastructure Segment. Clean Energy and Infrastructure revenue was $1,527 million in 2020, as compared with $1,034 million in 2019, an increase of $493 million, or 48%. Organic revenue increased by approximately $418 million, or 40%, as compared with 2019, and acquisitions contributed $74 million of revenue for the year ended December 31, 2020. The increase in organic revenue was driven primarily by higher levels of clean energy project activity.
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