Peconic Partners Stock Portfolio: 5 Stock Picks

3. Mastec Inc (NYSE:MTZ)

Peconic Partners’ Investment Stake: $1.2 Billion

Number of Hedge Fund Holders: 2

Mastec Inc (NYSE:MTZ) is one of Peconic Partners’ top stock picks. The hedge fund increased its holding in Mastec stock by 124% during Q1 2026, and the stock now makes up more than 19.9% of the fund’s portfolio. Mastec shares have gained more than 80% year-to-date and surged more than 140% over the past year.

On June 18, Baird reaffirmed its Buy rating on Mastec Inc (NYSE:MTZ) stock with a price target of $473 on the shares. The brokerage expects the company to perform strongly in the year ahead and sees a pullback in the stock as a buying opportunity.

Mastec had a strong start to the year. It posted EPS of $0.77, reflecting an increase of 516% YoY. Revenue came in at $3.8 billion, indicating an increase of 34% YoY. The company exited the quarter with a record 18-month backlog of $20.3 billion, reflecting an increase of $4.4 billion from a year. Surging orders in the clean energy and infrastructure segment were a major contributor to the backlog growth.

Amid the swelling backlog, Mastec raised its full-year 2026 guidance. It expects full-year 2026 adjusted EPS of $8.79, compared to $6.55 in full-year 2025.

Florida-based Mastec Inc (NYSE:MTZ) is a specialty infrastructure contractor. It builds and maintains communications, energy, and utility infrastructure. For instance, its communications segment serves both wireless and wireline infrastructure markets.