Citigroup Cuts MasTec (MTZ) Price Target to $308

Citigroup maintained its Buy rating on MasTec, Inc. MTZ on October 23, 2026, while lowering its price target from $408 to $308. The research note was issued on the same day the engineering and construction firm traded near $171.55.

MTZ MasTec, Inc.

$171.55 ▼ -24.64% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Citigroup's Call on MasTec

In its October 23 research note, Citigroup kept a Buy rating on the infrastructure builder while reducing the price target by $100 from its previous level of $408. The new target sits well below where Wall Street analysts on average project the stock could go.

Other Institutional Activity in MasTec

Large funds continue to adjust their holdings in the engineering firm. Peconic Partners, LLC grew its holdings by 99,843 shares, ending with 3,678,431 shares worth about $631,034,849. Hill City Capital, Lp held steady with 2,155,000 shares valued at about $369,690,256. Lone Pine Capital Llc reduced its stake by 185,866 shares to finish with 1,345,157 shares worth approximately $230,761,687. First Trust Advisors LP trimmed its position by 83,140 shares, leaving it with 1,328,399 shares valued at about $227,886,852. Meanwhile, Campbell Newman Asset Management sold out completely, dropping 15,966 shares to end with zero holdings.

MasTec, Inc. Stock Down 5.2%

MasTec closed at $171.05 on October 23, 2026. The shares recently traded at $171.55, up about 0.3% since that close. The stock sits far below its 52-week high of $441.43 and trades just above its 52-week low of $169.56.

Recent Earnings

MasTec reported trailing twelve month revenue of $16,109,103,104 alongside year-over-year revenue growth of 23.4%. The company generated a net profit margin of 3.1% and a return on equity of 16.2%, with basic trailing earnings per share at $5.94. The firm's next earnings report is scheduled for October 29, 2026.

Dividend

MasTec does not pay a regular dividend, holding a dividend payout ratio of 0.0%.

Insider Buying and Selling at MasTec, Inc.

Company insiders completed several share sales earlier in the year. Director Ernst N Csiszar sold 6,500 shares on March 3, 2026, at an average price of $300.40 for a total value of $1,952,600. Later, on March 25, 2026, director Javier Alberto Palomarez sold 950 shares at $325.43 per share for a total of $309,158. Director Charles Robert Campbell sold 3,000 shares on May 4, 2026, at $417.00 per share for a total of $1,251,000. Finally, director Ernst N Csiszar executed another sale on June 3, 2026, disposing of 6,500 shares at $371.17 each for a total value of $2,412,605.

Analysts Set New Price Targets

Wall Street firms have kept a generally positive stance on the stock despite recent target cuts. Stifel maintained a Buy rating on October 8, 2026, lowering its target from $376 to $305. Keybanc kept an Overweight rating on October 15, 2026, cutting its target from $371 to $320. JP Morgan maintained an Overweight rating on October 19, 2026, reducing its target from $369 to $303. Barclays also kept an Overweight rating on October 19, 2026, lowering its target from $340 to $320. Across 21 analyst opinions, the stock holds a consensus Strong Buy recommendation with a mean price target of $364.90.

About MasTec

MasTec builds and maintains vital infrastructure across North America. The company handles engineering, installation, and upgrade work for communications networks, clean energy projects, power delivery systems, and pipelines through its five operating segments.

Bottom Line

Investors are awaiting the company's next earnings report scheduled for October 29, 2026, to see how operational results measure up against current analyst expectations. Wall Street consensus remains positive even as several firms have trimmed their price targets in recent weeks.