California Public Employees Retirement System Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

California Public Employees Retirement System lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 106,779 shares of the construction company’s stock after selling 3,450 shares during the quarter. California Public Employees Retirement System’s holdings in MasTec were worth $14,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MTZ. State Street Corp increased its holdings in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares during the last quarter. Geode Capital Management LLC raised its holdings in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock worth $75,787,000 after buying an additional 114,502 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of MasTec in the 4th quarter valued at $59,910,000. Finally, Prudential Financial Inc. grew its position in shares of MasTec by 52.4% in the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company’s stock valued at $55,162,000 after buying an additional 139,235 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on MTZ shares. Wolfe Research initiated coverage on shares of MasTec in a research note on Monday, March 31st. They issued a “peer perform” rating for the company. Citigroup boosted their target price on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Truist Financial boosted their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, KeyCorp raised their target price on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.07.

MasTec Trading Down 5.5 %

Shares of MasTec stock opened at $105.87 on Friday. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 94.53 and a beta of 1.74. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. The company’s 50-day simple moving average is $128.35 and its 200-day simple moving average is $133.44. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.30% of the stock is currently owned by company insiders.

MasTec Company Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.