MasTec (MTZ, Financial) is a specialty engineering, procurement, and construction (EPC) company that buildspipelines, telecom infrastructure and electric utility and renewable transmission and distribution infrastructure. Founders and operators Jorge and Jose Mas own 20% of the company and we believe have done a great job growing MasTec and rolling up smaller competitors at attractive prices.14 The trailing 12-month performance suffers from timing as expectations for infrastructure stimulus caused the share price to peak at the end of Q2 2021.
From Steven Scruggs (Trades, Portfolio)' FPA Queens Road Small Cap Value Fund third-quarter 2022 letter.
