Jennison Associates LLC Has $32.01 Million Position in MasTec, Inc. $MTZ

Jennison Associates LLC cut its holdings in MasTec, Inc. (NYSE:MTZ) by 3.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 99,486 shares of the construction company’s stock after selling 3,370 shares during the period. Jennison Associates LLC owned 0.13% of MasTec worth $32,009,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MTZ. Victory Capital Management Inc. grew its holdings in MasTec by 178.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after buying an additional 1,690,896 shares during the last quarter. Peconic Partners LLC boosted its position in shares of MasTec by 113.3% in the fourth quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock valued at $347,792,000 after acquiring an additional 850,000 shares during the period. First Trust Advisors LP boosted its position in shares of MasTec by 28.3% in the fourth quarter. First Trust Advisors LP now owns 1,311,433 shares of the construction company’s stock valued at $285,066,000 after acquiring an additional 289,258 shares during the period. Geode Capital Management LLC increased its position in MasTec by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,220,703 shares of the construction company’s stock worth $265,395,000 after acquiring an additional 94,344 shares during the period. Finally, AQR Capital Management LLC increased its position in MasTec by 11.3% during the second quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock worth $181,961,000 after acquiring an additional 108,504 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $417.00, for a total value of $1,251,000.00. Following the sale, the director directly owned 30,646 shares in the company, valued at approximately $12,779,382. This represents a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the completion of the transaction, the director directly owned 10,816 shares of the company’s stock, valued at approximately $4,014,574.72. The trade was a 37.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 21.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of MasTec from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Truist Financial boosted their price objective on shares of MasTec from $518.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. KeyCorp upped their price objective on shares of MasTec from $460.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Citigroup increased their target price on shares of MasTec from $440.00 to $483.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Mizuho lifted their target price on MasTec from $498.00 to $502.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Nineteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $464.78.

MasTec Stock Up 2.1%

MTZ opened at $336.54 on Tuesday. MasTec, Inc. has a fifty-two week low of $160.08 and a fifty-two week high of $441.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.32 and a quick ratio of 1.28. The firm’s fifty day moving average price is $379.38 and its two-hundred day moving average price is $327.61. The company has a market capitalization of $26.59 billion, a P/E ratio of 58.94 and a beta of 1.77.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.41. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.47 billion. MasTec had a net margin of 2.94% and a return on equity of 17.15%. The business’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. On average, analysts anticipate that MasTec, Inc. will post 9.18 EPS for the current year.

MasTec Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.