Primoris vs. MasTec: Which Infrastructure Stock Is the Better Buy Now?

Primoris Services Corporation PRIM and MasTec, Inc. MTZ are two of the leading infrastructure construction companies in North America. Both provide engineering, construction and maintenance services across utilities, energy and communications, supporting renewable power, natural gas, pipelines and broadband projects. With rising investment in grid upgrades, large-scale renewables and federally backed broadband expansion, both are positioned to benefit from strong long-term demand.While they share common ground, the companies are pursuing growth differently. Primoris is focused on renewables, natural gas generation and power delivery, while expanding into data centers and fiber networks. MasTec is taking a broader scaling approach, growing across power delivery, clean energy and communications while maintaining its pipeline business. By expanding its backlog and securing major customer agreements, MasTec is positioning itself for a central role in upcoming large-scale projects.Despite these strengths, both companies face shared risks. Tariff-related uncertainty, cost pressures and execution challenges on large projects remain key factors that can weigh on margins and influence the pace of growth.Let us dive deep and closely compare the fundamentals of the two stocks to determine which is the better investment option now.The Case for PRIMPrimoris is positioning itself as a diversified infrastructure services provider with strength across utilities, energy and industrial markets. The company’s growth is anchored by renewables and natural gas generation, supported by federal incentives and a multi-year pipeline of solar opportunities. Its balanced mix of services, including utility-scale solar, power delivery and gas distribution, creates a stable platform while offering exposure to long-term clean energy investment cycles.In the second quarter of 2025, renewables remained the primary growth driver. Segment revenues rose 27% year over year, with more than $100 million of work pulled forward from the second half of 2025 and $50 million from 2026. The business is on track to generate close to $2.5 billion in annual revenues, above the prior outlook. With more than $2.5 billion in natural gas generation projects under bid and $20-$30 billion in solar opportunities being monitored through 2028, the company has a visible multi-year growth pipeline in clean energy.The company is also gaining exposure to data centers and communications infrastructure. As of the second quarter of 2025, it was evaluating $1.7 billion in potential data center projects and had been shortlisted for $400-$500 million of that work. Communications revenues increased year over year at a double-digit rate in the same period, driven by fiber-to-the-home programs and higher demand from data centers. This expansion underscores the company’s ability to leverage existing capabilities to capture growth in digital infrastructure.At the end of the second quarter of 2025, backlog stood at $11.5 billion, up about $100 million sequentially, with MSA backlog rising by more than $600 million from higher activity in power delivery. Although energy backlog dipped modestly due to timing, renewables activity rebounded strongly in early third-quarter 2025. With momentum across utilities, renewables and industrial services, the company expects backlog growth to accelerate through late 2025 and into 2026, supporting a sustained outlook for revenue visibility and earnings expansion.The Case for MTZMasTec has built one of the most diversified portfolios among infrastructure contractors, with operations spanning communications, clean energy, power delivery and pipelines. Its strategy is centered on scaling across high-demand markets, leveraging customer relationships and expanding capabilities in areas tied to secular trends such as broadband rollout, renewable energy investment and grid modernization. In the second quarter of 2025, non-pipeline operations showed particularly strong momentum. Communications revenues increased sharply as demand for broadband expansion and data center connectivity accelerated. Clean Energy and Infrastructure delivered higher volume and stronger margins, reflecting both project awards and favorable execution. Power delivery continued to grow as utilities moved forward with investments to upgrade transmission and distribution systems. Together, these businesses provided a solid foundation for profitability improvements across the company.A key factor in MasTec’s strategy is its ability to scale alongside large customers through multi-year agreements. The company has increasingly secured framework contracts with top-tier developers and telecom providers, strengthening its position in renewables, communications and grid-related projects. These partnerships not only provide recurring revenue opportunities but also enhance visibility into future demand across multiple markets.At the end of the second quarter of 2025, total backlog stood at $16.45 billion, up 23.3% year over year and 4% sequentially. Supported by this record level, the company raised its 2025 guidance, with revenues of $13.9-$14 billion and adjusted earnings per share of $6.23-6.44. With backlog already extending into 2026 and visibility improving across non-pipeline operations, MasTec anticipates sustained growth supported by both structural demand trends and its diversified business model.Stock Performance & Valuation: PRIM vs. MTZAs witnessed from the chart below, in the past three months, Primoris’ share price performance stands significantly above those of MasTec and the Zacks Building Products - Heavy Construction industry. Image Source: Zacks Investment Research Considering valuation, over the last five years, MasTec is trading above Primoris on a forward 12-month price-to-earnings (P/E) ratio basis. Image Source: Zacks Investment Research Comparing EPS Estimate Trends: PRIM vs. MTZThe Zacks Consensus Estimate for PRIM’s 2025 EPS indicates 24.8% year-over-year growth, with the 2026 estimate implying an increase of 13.9%. Its 2025 and 2026 EPS estimates have trended upward over the past 60 days.PRIM's EPS Estimate Revision Image Source: Zacks Investment Research The Zacks Consensus Estimate for MTZ’s 2025 EPS suggests 58% year-over-year growth, with the 2026 estimate indicating an increase of 21.8%. Its 2025 and 2026 EPS estimates have both trended upward over the past 60 days.MTZ's EPS Estimate Revision Image Source: Zacks Investment Research The VerdictPrimoris is emerging as a well-balanced infrastructure services provider, with growth supported by renewables, utilities and expanding exposure to data centers and fiber. The company has also seen favorable earnings estimate revisions, which reinforce confidence in its ability to sustain momentum. With its shares outperforming in recent months, investors are rewarding the company’s diversification and steady execution.MasTec remains a strong competitor with scale across multiple markets and a record level of contracted work that points to healthy demand. However, the company faces higher cost pressures from its rapid expansion and continues to trade at a premium valuation compared with peers. While its long-term growth outlook is intact, its stock performance has lagged more recently, reflecting some of these near-term headwinds.Considering stronger relative share price performance and a more compelling valuation, Primoris, which currently flaunts a Zacks Rank #1 (Strong Buy), presents a better investment opportunity over MasTec, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.See our %%CTA_TEXT%% report – free today!7 Best Stocks for the Next 30 DaysWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Primoris Services Corporation (PRIM): Free Stock Analysis Report MasTec, Inc. (MTZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks