Is it Still Fine to Invest in MasTec (MTZ)?

Investment management company First Pacific Advisors recently released its “Queens Road Small Cap Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund outperformed its benchmark index and returned -11.46% compared to a -15.28% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, First Pacific Advisors discussed stocks like MasTec, Inc. (NYSE:MTZ). Headquartered in Coral Gables, Florida, MasTec, Inc. (NYSE:MTZ) is an infrastructure construction company. On August 26, 2022, MasTec, Inc. (NYSE:MTZ) stock closed at $83.75 per share. One-month return of MasTec, Inc. (NYSE:MTZ) was 7.19%, and its shares lost 9.69% of their value over the last 52 weeks. MasTec, Inc. (NYSE:MTZ) has a market capitalization of $6.326 billion.

Here is what First Pacific Advisors specifically said about MasTec, Inc. (NYSE:MTZ):

“MasTec, Inc. (NYSE:MTZ) is a specialty engineering and construction firm that builds and services oil & gas pipelines, telecom, renewable energy, and electric utility infrastructure. Founder operators Jorge and Jose Mas own 20% of the company and have done a great job growing the company by rolling up smaller competitors at attractive prices. Share price performance over the last year suffered due to overly optimistic expectations for federal infrastructure stimulus.”

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MasTec, Inc. (NYSE:MTZ) is not on the list of 30 Most Popular Stocks Among Hedge Funds. MasTec, Inc. (NYSE:MTZ) was held by 19 hedge fund portfolios at the end of the second quarter compared to 28 in the previous quarter.

We discussed MasTec, Inc. (NYSE:MTZ) in another article and shared First Pacific Advisors’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.