MasTec is a prominent name in the construction and engineering industry, known for its innovations in building infrastructure solutions. If you’ve been wondering, Who owns MasTec?, you’re not alone. With its expansive operations across renewable energy, telecom, oil and gas, and utility sectors, MasTec garners attention from investors and business enthusiasts alike.
This blog post will break down MasTec’s ownership, detailing its history, and explore the key figures and shareholders behind the company. Additionally, we’ll review its market position, competition, and the brands within its umbrella.
History of MasTec
MasTec’s fascinating history began in 1929 when Cuban immigrant George Mas Canosa started the foundation of the company. Although it wasn’t initially called MasTec, he laid the groundwork for what would become a construction and engineering powerhouse.
Eventually, in the 1990s, the modern incarnation of MasTec was formed when the Mas family merged their company with another infrastructure firm. Headquartered in Coral Gables, Florida, MasTec has since grown into a global entity specializing in engineering and construction, serving industries such as energy, telecommunications, and utilities.
Who Owns MasTec?
MasTec is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol MTZ. Its largest shareholder is the Mas family, founded by the descendants of George Mas Canosa. Among them, Jorge Mas, George’s son, plays a pivotal role in the company’s ownership. Today, Jorge Mas serves as the company’s Chairman and remains one of the most influential figures driving MasTec’s vision and strategy.
While the Mas family holds significant stakes, institutional investors also own considerable shares, further diversifying ownership. This keeps MasTec grounded in its family legacy yet allows financial flexibility by maintaining investor trust.
Summary of Largest Shareholder
- Name: Jorge Mas (representing the Mas family)
- Role: Chairman of the Board
- Contributions: Overseeing strategy, supporting long-term growth, and preserving the company’s vision as a family-influenced legacy holding.
List of Shareholders
Below is a list of the top 10 major shareholders of MasTec, their percentage ownership in the company, roles, and influence:
Vanguard Group Inc.
Percentage Ownership: Approximately 11%
Role: Institutional investor
Vanguard is one of the largest shareholders, providing significant influence over company decisions through voting rights on major corporate policies and board appointments.
BlackRock Inc.
Percentage Ownership: Approximately 9%
Role: Institutional investor
BlackRock’s substantial stake ensures it has a pivotal role in shaping strategic direction during shareholder meetings.
Jorge Mas Family Trust
Percentage Ownership: Approximately 8%
Role: Founding family holdings
Control: Direct influence over MasTec’s decision-making due to their active leadership involvement through Jorge Mas and Jose Mas.
SSGA Funds Management, Inc. (State Street)
Percentage Ownership: Approximately 7%
Role: Institutional investor
Control: Plays a major role as a long-term investor and has voting power in corporate governance matters.
Fidelity Management & Research
Percentage Ownership: Approximately 5%
Role: Institutional investor
Control: With extensive equity investments, Fidelity actively engages in supporting the company’s continued growth and performance.
Macquarie Group Limited
Percentage Ownership: Approximately 4%
Role: Institutional investor
Control: Focuses on delivering global investment insights that influence MasTec’s market strategies.
Capital Research Global Investors
Percentage Ownership: Approximately 3%
Role: Institutional asset manager
Control: Influences corporate strategy through its broad portfolio management and shareholder actions.
Geode Capital Management LLC
Percentage Ownership: Approximately 2.5%
Role: Institutional investor
Control: Investment into MasTec gives Geode the ability to vote on key governance topics as part of its diversified portfolio.
Dimensional Fund Advisors LP
Percentage Ownership: Approximately 2%
Role: Institutional investor
Control: Leverages its investments to influence policies around sustainability and corporate social responsibility.
T. Rowe Price Associates, Inc.
Percentage Ownership: Approximately 1.8%
Role: Asset manager
Control: Provides shareholder advice and votes on corporate governance to drive long-term value creation.
Who Controls MasTec?
The operational and strategic control of MasTec lies with its Board of Directors, led by Chairman Jorge Mas. The board collaborates with CEO Jose Mas, Jorge’s brother, to make executive decisions.
The combination of family influence through the Mas family and institutional investors helps maintain a balance of ownership that pushes the company forward while respecting its heritage. Ultimately, corporate control is exercised collectively, striking a balance between visionary goals and financial accountability.
MasTec’s Annual Revenue and Net Worth
MasTec is a robust player in infrastructure solutions, and its financial records reflect this strength.
- Annual Revenue (2023): $13 billion
- Net Worth (2023): Estimated $3.5 billion
The company has consistently demonstrated growth through its diverse projects in renewables, oil and gas, and telecommunications. The push for green energy has also bolstered its presence in the renewable sector, contributing to steady revenue streams.
Market Share and Competitors
MasTec holds roughly 6-10% of the market share in the U.S. engineering and construction sector. It is considered one of the leaders in this competitive market, especially in building telecom networks and renewable energy infrastructures.
Quanta Services Inc.
- Market Share Approx. 12%
- A leader in utility-focused projects and telecommunications.
Dycom Industries Inc.
- Market Share Approx. 4%
- Known for providing telecom infrastructure solutions.
MYR Group Inc.
- Market Share Approx. 3%
- Specializes in electrical construction services for utilities and renewables.
MasTec sets itself apart by offering end-to-end solutions in renewables, construction, and telecom—an edge that few of its competitors can match.
Brands Owned by MasTec
MasTec’s diversification is evident through the numerous brands and subsidiaries it operates under. Each entity targets a specific sector, leveraging expertise to contribute to MasTec’s overall success.
1. MasTec Clean Energy and Power Delivery
- Field: Renewable energy solutions.
- Projects: Solar farms, wind energy infrastructure, and grid connectivity.
2. MasTec Utility Services
- Field: Utilities and maintenance.
- Projects: Overhead and underground utility systems.
3. MasTec Network Solutions
- Field: Telecommunications infrastructure.
- Projects: 5G network rollouts and fiber installations.
4. MasTec Oil and Gas
- Field: Oil and gas pipeline construction.
- Projects: Pipeline transportation networks and drilling site development.
Each brand contributes uniquely to MasTec’s dominance in its markets, further strengthening the company’s foothold across diverse industries.
Final Insights on MasTec
MasTec is a powerful example of a family-driven, publicly traded company balancing its legacy with business innovation. The Mas family remains the guiding force, supported by institutional shareholders who ensure professionalism and governance. Additionally, MasTec’s diverse portfolio—spanning renewable energy, telecom infrastructure, and utilities—provides sustainable growth and stability in highly competitive markets.
Frequently Asked Questions
1. Is MasTec privately owned?
No, MasTec is a publicly traded company listed on the NYSE under the ticker MTZ.
2. Does the Mas family still run MasTec?
Yes, the Mas family is heavily involved in the leadership, with Jorge Mas as Chairman and Jose Mas as CEO.
3. What is MasTec’s primary focus?
MasTec focuses on renewable energy, telecom infrastructures, oil and gas pipelines, and utility services.