MasTec Acquires McKee Utility for $276 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 02 2026
0mins
Source: Yahoo Finance
MasTec's stock fell by 5.12% as it crossed below the 5-day SMA, reflecting broader market weakness with the Nasdaq-100 down 0.79% and the S&P 500 down 0.97%.
The decline occurred despite MasTec's announcement of acquiring McKee Utility Contractors from Boyne Capital for $276 million, a strategic move that enhances its infrastructure services portfolio. This acquisition follows a period of significant growth for McKee, which has nearly doubled its crew count and significantly increased its revenue and EBITDA since partnering with Boyne in 2022. The deal is expected to bolster MasTec's capabilities in large-scale water infrastructure projects in the Southern United States.
This acquisition positions MasTec for future growth, but the current stock decline suggests that investors are reacting to broader market conditions rather than the positive strategic developments within the company.
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Analyst Views on MTZ
Wall Street analysts forecast MTZ stock price to fall
13 Analyst Rating
12 Buy
1 Hold
0 Sell
Strong Buy
Current: 378.370
Low
225.00
Averages
252.20
High
270.00
Current: 378.370
Low
225.00
Averages
252.20
High
270.00
About MTZ
MasTec, Inc. is an infrastructure construction company operating mainly throughout North America across a range of industries. The Company's segments include Communications, Clean Energy and Infrastructure, Power Delivery, Pipeline Infrastructure, and Other. Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, wireless integration and optimization and install-to-the-home services, and others. Clean Energy and Infrastructure segment primarily serves energy, utility, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and renewable sources, such as wind, solar, and hydrogen; various types of heavy civil and industrial infrastructure services, and others. Power Delivery segment primarily serves the energy, utility and data center infrastructure industries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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