Coatue Management 13F: Cuts MasTec (MTZ) Stake by $39M

Coatue Management Lowers Stake in MasTec, Inc.

Coatue Management trimmed its investment in MasTec, Inc. (NYSE: MTZ) during the period, cutting its holdings by 94,312 shares, according to a recent Form 13F filing with the Securities and Exchange Commission. The move represents a 13.9% decrease for the fund in the infrastructure engineering firm. Institutional 13F filings look backward at holdings as of the reporting date and do not necessarily reflect current positions.

Position Size and Portfolio Context

Following the reduction, Coatue Management held 583,597 shares of MasTec. The remaining stake carried an estimated value of $242.8 million at the close of the period. This adjustment sits alongside other recent portfolio adjustments by the fund, which included trimming several major technology and growth holdings while shifting capital elsewhere.

MasTec Stock Performance and Key Levels

MasTec shares trade around $416.06, placing the stock near the higher end of its 52-week range of $182.34 to $441.43. The company carries a market capitalization of roughly $17.9 billion and a trailing P/E ratio of 35.49, while its forward P/E sits at 17.76. The stock's current price remains well above both its 50-day moving average of $277.10 and its 200-day moving average of $305.67.

Analysts Set New Price Targets

Wall Street firms have kept a close eye on MasTec through recent months, adjusting their targets as the share price climbed. On October 15, 2026, Keybanc maintained its Overweight rating while lowering its price target from $371.00 to $320.00. Stifel maintained a Buy rating on October 8, 2026, adjusting its target from $376.00 to $305.00. Truist Securities followed on October 5, 2026, keeping a Buy rating with a target moved to $380.00 from $428.00. TD Cowen also maintained a Buy rating on October 5, 2026, setting a target of $320.00. Piper Sandler maintained an Overweight rating on September 28, 2026, with a target of $313.00, following an earlier initiation on September 9, 2026, at a $321.00 target. Goldman Sachs maintained a Buy rating on August 12, 2026, at a $409.00 target, and UBS maintained a Buy rating on August 4, 2026, with a $410.00 target. The stock currently holds a consensus recommendation of strong_buy with a mean price target of $413.80 across 20 analyst opinions.

Infrastructure Engineering Operations

MasTec, Inc. builds and maintains critical infrastructure across North America, operating through segments focused on communications, clean energy, power delivery, and pipeline infrastructure. Founded in 1929 and headquartered in Coral Gables, Florida, the company serves utility providers, broadband operators, and government entities with construction and emergency restoration services.

What to Watch at MasTec, Inc.

Investors will look toward MasTec's next earnings report, scheduled for October 29, 2026, for updates on revenue growth and profit margins. Future 13F filings will also show whether other large institutional managers follow Coatue's lead in trimming exposure or continue building positions in the engineering firm.