Jennison Associates LLC Lowers Stock Position in MasTec, Inc. $MTZ

Key Points

• Jennison Associates LLC cut its stake in MasTec by 58.7%, selling 146,403 shares in Q4 and finishing with 102,856 shares valued at about $22.36 million.
• MasTec posted a strong Q1 and raised guidance, reporting $1.39 EPS vs. $0.98 expected and $3.83B revenue (+34.5% YoY), and increasing FY2026 EPS guidance to 8.79 with Q2 EPS set at 2.20.
• Analysts remain largely bullish but valuation is high: the consensus is a "Moderate Buy" (17 Buys, 3 Holds) with an average target of $336, while the stock trades near its 52‑week high (~$418) and carries a P/E of about 82.

Jennison Associates LLC lowered its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 58.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,856 shares of the construction company's stock after selling 146,403 shares during the period. Jennison Associates LLC owned about 0.13% of MasTec worth $22,358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC raised its holdings in shares of MasTec by 344.4% in the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company's stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of MasTec in the fourth quarter valued at about $30,000. Root Financial Partners LLC purchased a new stake in shares of MasTec in the third quarter valued at about $49,000. CI Investments Inc. raised its holdings in shares of MasTec by 39.9% in the third quarter. CI Investments Inc. now owns 319 shares of the construction company's stock valued at $68,000 after purchasing an additional 91 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of MasTec by 105.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company's stock valued at $61,000 after purchasing an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays increased their target price on shares of MasTec from $260.00 to $340.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. increased their target price on shares of MasTec from $346.00 to $386.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. KeyCorp increased their target price on shares of MasTec from $264.00 to $335.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Citigroup increased their target price on shares of MasTec from $350.00 to $440.00 and gave the company a "buy" rating in a report on Monday. Finally, Stifel Nicolaus raised their price objective on shares of MasTec from $335.00 to $401.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $336.00.

MasTec Stock Performance

NYSE MTZ opened at $417.65 on Friday. MasTec, Inc. has a 52-week low of $136.88 and a 52-week high of $418.13. The company has a 50-day simple moving average of $328.15 and a 200 day simple moving average of $259.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.29 and a current ratio of 1.32. The company has a market capitalization of $32.92 billion, a PE ratio of 82.38 and a beta of 1.80.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.41. MasTec had a net margin of 2.94% and a return on equity of 17.50%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the company posted $0.51 earnings per share. The firm's quarterly revenue was up 34.5% compared to the same quarter last year. 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, research analysts predict that MasTec, Inc. will post 8.2 EPS for the current year.

Trending Headlines about MasTec

Here are the key news stories impacting MasTec this week:

• Positive Sentiment: Q1 results beat expectations — MasTec reported $1.39 EPS vs. consensus ~$0.98 and revenue of $3.83B, ahead of estimates and up ~34.5% year-over-year, signaling accelerating demand. MarketBeat Q1 Summary
• Positive Sentiment: Management raised guidance — MasTec boosted FY 2026 EPS guidance to 8.79 (vs. consensus ~8.45) and issued higher revenue guidance (~$17.5B), and set Q2 EPS at 2.20 with revenue ~$4.3B, showing confidence in backlog and demand. Business Wire: Q1 Results & Guidance
• Positive Sentiment: Strong execution across end-markets — Management highlighted double-digit revenue and profit growth and strong customer demand across businesses on the earnings call, supporting the guidance raise. Earnings Call Transcript
• Neutral Sentiment: Analyst write-ups and snapshots — Coverage from Zacks, Yahoo and local press highlights the beat and upgraded outlook; useful context for estimates and style/valuation checks. Zacks: Key Metrics
• Negative Sentiment: Rich valuation creates risk — MTZ trades at a high P/E (market commentary notes elevated multiples after the rally), which could amplify downside if growth or margin progress slips. Yahoo Finance Coverage

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $300.40, for a total value of $1,952,600.00. Following the completion of the transaction, the director owned 17,235 shares in the company, valued at $5,177,394. This trade represents a 27.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Javier Alberto Palomarez sold 950 shares of MasTec stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $325.43, for a total transaction of $309,158.50. Following the completion of the transaction, the director owned 10,592 shares of the company's stock, valued at $3,446,954.56. The trade was a 8.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 21.40% of the company's stock.

About MasTec

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.

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