State of Alaska Department of Revenue Lowers Holdings in MasTec, Inc. (NYSE:MTZ)

State of Alaska Department of Revenue reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 8.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,528 shares of the construction company’s stock after selling 640 shares during the period. State of Alaska Department of Revenue’s holdings in MasTec were worth $494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MTZ. Vanguard Group Inc. boosted its position in shares of MasTec by 0.6% during the third quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock worth $429,670,000 after acquiring an additional 33,592 shares during the last quarter. BlackRock Inc. lifted its stake in MasTec by 2.4% in the 1st quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company’s stock worth $489,168,000 after purchasing an additional 134,201 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of MasTec by 35.0% during the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after purchasing an additional 1,027,085 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of MasTec by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company’s stock valued at $263,271,000 after purchasing an additional 17,369 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of MasTec by 1.1% in the second quarter. Macquarie Group Ltd. now owns 2,372,108 shares of the construction company’s stock worth $169,985,000 after purchasing an additional 25,878 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

MasTec stock opened at $87.96 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36. The firm has a market capitalization of $6.99 billion, a P/E ratio of -133.27 and a beta of 1.62. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $123.33. The company’s 50-day moving average is $82.97 and its 200 day moving average is $71.08.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.20. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Research analysts forecast that MasTec, Inc. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MTZ shares. Stifel Nicolaus increased their price target on MasTec from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. UBS Group raised their target price on shares of MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Craig Hallum raised shares of MasTec from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $96.00 in a research note on Monday, March 4th. DA Davidson reiterated a “buy” rating and set a $70.00 price objective on shares of MasTec in a research report on Monday, March 4th. Finally, Robert W. Baird boosted their target price on shares of MasTec from $70.00 to $89.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.46.

About MasTec

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.