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What: Shares of MasTec
So what: Revenue rose 38% from a year ago to $992.2 million and crushed the $889.5 million in revenue analysts expected. Earnings per share were $0.37, which topped estimates by $0.02.
Now what: The company is benefiting from the energy transition taking place in the U.S., toward natural gas and renewable energy. These markets are exploding and now the company expects to earn $1.50 per share this year, instead of its old target of $1.42 per share. With shares trading at 12 times this year's new estimate and growth looking strong, I think shares can continue to rise as the company builds out our new energy infrastructure.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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