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MasTec, Inc. (NYSE:MTZ), a $14 billion infrastructure construction company that has delivered an impressive 65% return over the past year, notified on Wednesday that it will implement a temporary blackout period for participants in its 401(k) Retirement Plan due to a transition in recordkeeper services. According to InvestingPro data, the company maintains a GOOD financial health score, with 8 analysts recently revising their earnings expectations upward. According to a press release statement based on the company’s recent SEC filing, the 401(k) plan will move its recordkeeping from Bank of America/Merrill Lynch to Schwab Retirement Plan Services, Inc., effective October 1, 2025.
The blackout period is scheduled to begin at 4:00 p.m. Eastern Time on Monday, September 22, 2025, and is expected to conclude during the week of October 19, 2025. During this time, participants and beneficiaries of the 401(k) plan will be temporarily unable to obtain a loan or distribution, contribute rollovers, submit loan checks, change existing investment elections or contribution rates, or request a fund transfer. These restrictions also apply to transactions involving MasTec common stock held within the plan.
MasTec also reported that on Tuesday, it issued a notice to its directors and executive officers, as required by Section 306(a) of the Sarbanes-Oxley Act of 2002 and Section 104 of Regulation BTR under the Securities Exchange Act. The notice informed them that, during the blackout period, they will be prohibited from purchasing, selling, or otherwise transferring any MasTec common stock acquired in connection with their service or employment as a director or executive officer.
A copy of the blackout notice to directors and executive officers was included as an exhibit in the filing. Shareholders and interested parties may obtain information about the actual beginning and ending dates of the blackout period by contacting the company’s 401(k) plan administrator.
All information is based on a press release statement and the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, MasTec has reported strong second-quarter results, leading to several positive analyst actions. The company’s performance exceeded expectations, prompting management to raise its fiscal year 2025 guidance, a move that has been well-received by analysts. Jefferies responded by increasing its price target for MasTec to $218 from $213, maintaining a Buy rating. Similarly, Stifel raised its price target to $198 from $181, also keeping a Buy rating, citing the impressive second-quarter results and optimistic guidance. KeyBanc raised its price target to $205 from $196, maintaining an Overweight rating, and noted the company’s conservative guidance strategy that maintains investor credibility. Texas Capital Securities initiated coverage with a Buy rating and a price target of $250, highlighting MasTec’s significant market position. These developments suggest analysts see potential growth opportunities ahead for the company.
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