Jennison Associates LLC Sells 3,370 Shares of MasTec, Inc. $MTZ

Jennison Associates LLC lowered its position in shares of MasTec, Inc. (NYSE:MTZ) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,486 shares of the construction company’s stock after selling 3,370 shares during the quarter. Jennison Associates LLC’s holdings in MasTec were worth $32,009,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MTZ. Gables Capital Management Inc. lifted its stake in shares of MasTec by 30.3% during the fourth quarter. Gables Capital Management Inc. now owns 21,054 shares of the construction company’s stock valued at $4,577,000 after acquiring an additional 4,900 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in MasTec by 50.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 70,500 shares of the construction company’s stock worth $15,325,000 after acquiring an additional 23,500 shares during the last quarter. Swedbank AB boosted its position in shares of MasTec by 5.2% during the fourth quarter. Swedbank AB now owns 64,300 shares of the construction company’s stock worth $13,977,000 after purchasing an additional 3,200 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of MasTec by 14.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 63,425 shares of the construction company’s stock valued at $13,787,000 after buying an additional 7,937 shares during the period. Finally, Ameritas Advisory Services LLC grew its holdings in shares of MasTec by 4,223.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 2,767 shares of the construction company’s stock valued at $601,000 after buying an additional 2,703 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Trading Up 2.1%

Shares of NYSE:MTZ opened at $336.54 on Tuesday. The firm has a market cap of $26.59 billion, a price-to-earnings ratio of 58.94 and a beta of 1.77. MasTec, Inc. has a 12 month low of $160.08 and a 12 month high of $441.43. The company’s fifty day simple moving average is $379.38 and its 200 day simple moving average is $327.61. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.69.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.41. The firm had revenue of $3.83 billion during 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 company’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the business earned $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. As a group, research analysts forecast that MasTec, Inc. will post 9.18 EPS for the current fiscal year.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $417.00, for a total transaction of $1,251,000.00. Following the completion of the transaction, the director directly owned 30,646 shares of the company’s stock, valued at $12,779,382. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ernst N. Csiszar sold 6,500 shares of the stock in a transaction dated 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 transaction, the director 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 SEC filing for this sale provides additional information. 21.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on MTZ. Cantor Fitzgerald upped their price objective on shares of MasTec from $545.00 to $581.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. B. Riley Financial reissued a “buy” rating on shares of MasTec in a research note on Monday, May 4th. CICC Research began coverage on MasTec in a report on Thursday, May 21st. They issued an “outperform” rating and a $480.00 price target for the company. JPMorgan Chase & Co. raised their price target on MasTec from $471.00 to $491.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, TD Cowen lifted their price objective on MasTec from $445.00 to $470.00 and gave the company a “buy” rating in a report on Monday, July 13th. Nineteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $464.78.

MasTec Company 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.