Exploring MasTec, Inc. (MTZ) Investor Profile: Who’s Buying and Why?

You're watching MasTec, Inc. (MTZ) and wondering why such a large percentage of the stock is locked up by big money, and honestly, the answer is in the 2025 numbers. The company just delivered a record third quarter, pulling in $4.0 billion in revenue and guiding for a full-year Adjusted Diluted EPS (earnings per share) of $6.40, which is a massive 62% year-over-year increase, so the fundamental story is defintely strong. But the real signal is the investor profile: a staggering 78.10% of the stock is currently owned by hedge funds and other institutional investors, with firms like Lazard Asset Management LLC increasing their position by a sharp 114.3% in recent filings. Is this aggressive accumulation purely a bet on the record $16.8 billion 18-month backlog, which signals a multi-year infrastructure boom, or are they seeing deeper value in the Clean Energy and Pipeline Infrastructure segments that you need to factor into your own analysis?

Who Invests in MasTec, Inc. (MTZ) and Why?

If you're looking at MasTec, Inc. (MTZ), you're looking at a stock overwhelmingly dominated by professional money, not the individual investor. The direct takeaway is that institutional investors and hedge funds own a massive 78.10% of the company, and they are buying because MasTec sits at the nexus of major US infrastructure spending-think 5G build-outs, grid modernization, and the clean energy transition. This isn't a retail-driven stock; it's a conviction play on long-term sector growth.

Key Investor Types: The Institutional Powerhouse

The ownership structure of MasTec, Inc. is a classic example of institutional dominance, leaving only a small slice for individual retail investors. Insiders, which include the company's executives and directors, still hold a substantial 21.30% of the stock, which is a strong sign of management alignment with shareholder interests. This leaves less than 1% for the general public, so the price action is defintely driven by the big players.

The institutional base breaks down into three main groups, each with a different role:

• Passive Institutional Investors: These are the giants like BlackRock and Vanguard Group, which are the largest holders. They buy MasTec primarily because it is a core component of major infrastructure and construction sector exchange-traded funds (ETFs) and mutual funds. As of June 2025, BlackRock held approximately 8.2 million shares valued at about $1.4 billion, and Vanguard Group held around 6.0 million shares valued at over $1.0 billion.
• Active Institutional Investors: This group includes asset managers like State Street Corporation and Invesco, who actively manage their exposure to the infrastructure sector. Their buying and selling decisions are based on MasTec's fundamental performance relative to its peers.
• Hedge Funds: Firms like Electron Capital Partners and Merewether Investment Management LP are more tactical. They use MasTec for shorter-term trades or to express a high-conviction view on a specific segment, such as the Clean Energy and Infrastructure business.

Investment Motivations: Growth and Backlog

The primary driver for these large investors is MasTec's exceptional growth trajectory, fueled by national infrastructure mandates. The company's financial guidance for the 2025 fiscal year is what's attracting the capital. Management raised its full-year 2025 revenue guidance to $13.65 billion, and the adjusted diluted earnings per share (EPS) guidance was set at $6.40, which represents a projected 62% increase year-over-year.

Here's the quick math: A 62% EPS growth outlook in a capital-intensive industry signals a powerful secular tailwind. This is a story about government and utility spending, not just a cyclical recovery. The company's record 18-month backlog of $16.8 billion as of September 30, 2025, up 21% year-over-year, provides a clear line of sight on future revenue, which is gold for long-term investors. For a deeper dive into the company's long-term vision, you can check out the Mission Statement, Vision, & Core Values of MasTec, Inc. (MTZ).

Investment Strategies: Long-Term Growth and Sector Exposure

Given the high institutional ownership, the dominant strategy is a long-term holding period (buy and hold) focused on growth investing. Investors are betting on MasTec's exposure to four high-growth infrastructure segments: Communications, Power Delivery, Pipeline Infrastructure, and Clean Energy and Infrastructure. The Clean Energy segment is particularly attractive, with revenue increasing by 22% in Q1 2025 alone, appealing to funds with environmental, social, and governance (ESG) mandates.

The consensus 'Moderate Buy' rating from analysts, with an average 1-year price target of $229.44, suggests that professional investors see a clear path for the stock to appreciate as the backlog converts to revenue. This aligns with a value investing (or growth-at-a-reasonable-price) approach, where the current valuation is seen as cheap relative to the company's future cash flow potential. Short-term trading is present, evidenced by hedge fund activity, but the core investment thesis remains tied to the multi-year infrastructure supercycle. This is a patience game, not a quick flip.

Institutional Ownership and Major Shareholders of MasTec, Inc. (MTZ)

If you're looking at MasTec, Inc. (MTZ), the first thing to understand is that institutional money drives the stock. As of the most recent filings, institutional investors-the big players like mutual funds, pension funds, and asset managers-own a significant portion of the company, holding approximately 78.10% of the outstanding shares. That's a huge chunk of the float, meaning their collective sentiment is a defintely powerful force on the stock price and long-term strategy.

This high level of institutional ownership signals a few things: it shows confidence in the company's core business, which is critical infrastructure construction, but it also means the stock can move sharply when these large funds adjust their positions. Essentially, you're investing alongside the biggest names in finance, and their movements are your leading indicator.

Top Institutional Investors and Their Stakes

The largest institutional holders of MasTec, Inc. are exactly who you'd expect: the passive index giants and a few active managers focused on the industrial and infrastructure sectors. These firms don't just hold shares; they hold major influence, especially in proxy votes and corporate governance discussions.

Here's a snapshot of the largest holders and their positions, based on the most current 2025 filings:

Here's the quick math: these top five institutions alone control millions of shares, which is a massive voting block. Their total reported value is well over $3.7 billion, demonstrating a deep conviction in the long-term infrastructure narrative.

Recent Shifts: Buying, Selling, and the Q3 2025 Catalyst

The institutional trading activity in the second and third quarters of 2025 shows a mixed but generally optimistic picture, especially following MasTec, Inc.'s strong Q3 results. Overall, institutional owners filed 341 increased positions versus 254 decreased positions, but the size of the moves matters more than the count.

• Amundi, a major European asset manager, made a massive increase, boosting its stake by an astounding +8,449.5%, acquiring 225,194 shares as of November 14, 2025.
• Lazard Asset Management LLC also showed strong conviction, increasing its position by +114.3%, holding 159,950 shares.
• Conversely, some hedge funds took profits. Schonfeld Strategic Advisors LLC cut its position by -78.0%, reducing its holding to 41,907 shares. Cooper Creek Partners Management LLC also decreased its stake by -78.0%.

This tells you that while the passive index funds (like Vanguard and BlackRock) are steady, the active money is rotating. Some are taking gains after the stock's year-to-date return of 41.15% as of November 2025, while others are aggressively buying in, betting on the continued momentum from the company's upgraded 2025 guidance of US$14,075 million in revenue and US$399 million in GAAP net income.

The Impact of Institutional Ownership on Strategy and Stock Price

Institutional investors are more than just shareholders; they are a key driver of MasTec, Inc.'s stock price volatility and a direct influence on its strategic direction. Their investment thesis is firmly rooted in the company's record backlog, which provides strong revenue visibility into 2026.

When MasTec, Inc. reported Q3 2025 sales of US$3.97 billion and net income of US$160.66 million, the positive institutional sentiment was reinforced. The large-scale buying by institutions acts as a major support level, which is why the stock price was trading around $195.51 per share as of early November 2025, representing a 43.19% increase over the prior year.

Still, their concerns are your risks. The market reacted negatively to the Q2 2025 earnings despite a revenue beat, because of investor concerns about cash flow generation and profitability challenges in the Power Delivery segment. Their focus on execution is laser-sharp: they expect management to convert that record backlog into solid cash flow and improved margins, especially in the second half of 2025. You can dig deeper into the company's operational strength and risks here: Breaking Down MasTec, Inc. (MTZ) Financial Health: Key Insights for Investors.

The next step is to watch the next 13F filings closely to see if the aggressive buying from Q3 continues into Q4, which would signal sustained institutional confidence in the infrastructure super-cycle.

Key Investors and Their Impact on MasTec, Inc. (MTZ)

You want to know who is buying MasTec, Inc. (MTZ) and why, and the short answer is: the biggest players are doubling down because they believe in the infrastructure super-cycle. Institutional investors, the large funds and money managers, own a dominant share of the company-about 78.10% of the stock. This high concentration means their collective buying and selling drives the stock's major movements, far more than any individual investor ever could.

The core investment thesis for these funds is simple: MasTec, Inc. (MTZ) is a direct play on massive, sustained US infrastructure spending, from clean energy to 5G build-outs. This is why you see the big index and asset managers at the top of the list, alongside active funds making significant, high-conviction bets.

The Anchor Investors: BlackRock and Vanguard's Foundational Stakes

The largest shareholders are exactly who you'd expect: the giants of passive and active management. BlackRock, Inc. and Vanguard Group Inc hold the top spots, representing the foundational institutional belief in MasTec, Inc. (MTZ)'s long-term stability and role in the infrastructure sector. Their positions are so large they act as a defintely stable anchor for the stock.

• BlackRock, Inc. held over 8.16 million shares as of June 30, 2025.
• Vanguard Group Inc held over 6.00 million shares as of September 30, 2025.

These massive holdings, often through index funds (passive investment), provide a constant baseline demand for the stock. When BlackRock or Vanguard buys, it's not a commentary on a single quarter, but a structural endorsement of the company's position in the S&P Mid-Cap Index and the broader market. That's a powerful vote of confidence.

Recent Moves: Active Managers Making Big Bets

While the index funds provide the floor, it's the active managers who are signaling the near-term opportunities with their aggressive buying and selling. The most compelling recent data, as of November 2025, shows a clear pattern of accumulation from funds focused on the company's growth story, which is fueled by a record 18-month backlog of $16.8 billion as of September 30, 2025.

Here's the quick math on some of the notable recent moves by institutional investors:

The enormous percentage increases from firms like Amundi and Lazard Asset Management LLC show a high-conviction push into the stock, likely driven by the company's raised full-year 2025 Adjusted Diluted EPS guidance of $6.40, a 62% year-over-year increase. But to be fair, you also see some profit-taking, with Schonfeld Strategic Advisors LLC and Cooper Creek Partners Management LLC both reducing their stakes by -78.0%. This is normal churn as funds rebalance and lock in gains after the stock's 43.19% increase over the year leading up to November 2025.

Investor Influence and The Insider Signal

The influence of these investors is primarily through market sentiment and capital allocation. When a fund like Electron Capital Partners LLC, which has a significant stake, increases its position, it sends a strong signal to the market that the fundamental story-the company's ability to execute on its large-scale projects-is intact. They aren't activist investors (those who push for management changes) in the traditional sense, but their sustained buying pressure is a powerful endorsement of CEO Jose Mas's strategy.

What this accumulation hides, though, is a minor counter-signal from company leadership. Over the last 90 days, company insiders, including a director and the Chief Accounting Officer, sold a total of 16,929 shares, valued at approximately $3.39 million. While insiders still own a substantial 21.3% of MasTec, Inc. (MTZ), this selling is a reminder that even as institutional money flows in, those closest to the business are taking some chips off the table. You can learn more about the company's strategic foundation and ownership structure in MasTec, Inc. (MTZ): History, Ownership, Mission, How It Works & Makes Money.

Actionable Insight: What to Watch Next

Your next step should be to monitor the 13F filings for the fourth quarter of 2025. If the high-growth buyers like Amundi and Merewether continue their accumulation, it confirms their conviction that the company will successfully convert its record backlog into revenue and earnings. Watch for any Schedule 13D filings, which would signal an activist investor is taking a greater than 5% stake and intends to push for strategic changes, which is not currently the case.

Market Impact and Investor Sentiment

The investor sentiment toward MasTec, Inc. (MTZ) is firmly in the 'Moderate Buy' camp, driven by strong financial performance in the 2025 fiscal year and a robust outlook for U.S. infrastructure spending. This isn't just a hopeful consensus; it's grounded in the company's execution. Of the twenty-one brokerages covering MTZ, sixteen recommend a 'Buy' and two a 'Strong Buy,' resulting in an average 1-year price objective of $229.44 per share. That's a clear signal of confidence.

Institutional ownership is the dominant force here, with major funds holding roughly 78.10% of the stock. This high institutional backing provides a layer of stability, but it also means the stock is sensitive to big-money movements. The largest institutional holders, including BlackRock, Inc. and Vanguard Group Inc, are betting on MasTec's role in the national buildout of communications and energy infrastructure.

Recent Market Reactions to Ownership Shifts

The stock market has rewarded MasTec, Inc.'s operational strength, but it's also shown some classic caution flags. For instance, the stock surged 7.23% following the Q1 2025 earnings report after the company beat forecasts with revenue of $2.85 billion and an Adjusted Diluted EPS of $0.51. That's a tangible, immediate reaction to good news.

Still, you need to watch the insider activity. Over the last three months, MasTec insiders sold a total of 16,929 shares, valued at approximately $3.39 million. While insiders still own a significant 21.30% of the company, this selling activity is a data point you can't ignore, even if the overall institutional accumulation is positive. It's a small but defintely relevant counterbalance to the bullish analyst reports.

• Q1 2025 Revenue: $2.85 billion.
• Insider Sales (last quarter): 16,929 shares.
• Institutional Ownership: 78.10%.

Analyst Perspectives on Key Investor Impact

The analyst community is focused on MasTec, Inc.'s ability to convert its massive backlog into profitable revenue, and the large institutional investors are essentially underwriting that bet. The company's updated full-year 2025 guidance projects revenue of $14.08 billion and GAAP net income of $399 million. This is the core reason why firms like KeyCorp and Mizuho have recently raised their price targets to $246.00 and $254.00, respectively.

Here's the quick math: the 18-month backlog stood at a record $16.5 billion as of June 30, 2025, which gives the company clear revenue visibility for the next year and a half. The institutional investors like BlackRock, Inc. and Vanguard Group Inc are essentially confirming their belief in MasTec's ability to execute on this massive pipeline of projects across the Clean Energy and Communications segments.

What this estimate hides, though, is the execution risk. Analysts are clear: the main risk is project delays or execution missteps, which could pressure margins, especially in the Clean Energy and Infrastructure segment where margins are projected to be low, around 7-8% in 2025. The big-money investors are buying the long-term infrastructure narrative, but near-term project management is the critical lever. You can read more about the long-term view in the Mission Statement, Vision, & Core Values of MasTec, Inc. (MTZ).

The table below summarizes the key financial data that has fueled this positive investor sentiment and analyst optimism for the 2025 fiscal year.

Your next step should be to look closely at the Q4 2025 project execution updates, specifically for the Clean Energy segment.