Arizona State Retirement System Reduces Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Arizona State Retirement System reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,636 shares of the construction company’s stock after selling 327 shares during the period. Arizona State Retirement System’s holdings in MasTec were worth $1,335,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. CWM LLC increased its holdings in MasTec by 152.4% during the 3rd quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after purchasing an additional 317 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in MasTec by 75.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock worth $39,000 after purchasing an additional 232 shares during the last quarter. Headlands Technologies LLC purchased a new stake in MasTec during the 3rd quarter worth approximately $41,000. Itau Unibanco Holding S.A. purchased a new stake in MasTec during the 3rd quarter worth approximately $43,000. Finally, Covestor Ltd increased its holdings in MasTec by 40.1% during the 1st quarter. Covestor Ltd now owns 507 shares of the construction company’s stock worth $44,000 after purchasing an additional 145 shares during the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTZ. The Goldman Sachs Group boosted their price target on MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, February 9th. TD Cowen boosted their price target on MasTec from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, March 4th. KeyCorp boosted their price target on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Citigroup boosted their price target on MasTec from $74.00 to $99.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of MasTec in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.46.

MasTec Price Performance

Shares of MTZ opened at $87.96 on Monday. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a market cap of $6.99 billion, a P/E ratio of -133.27 and a beta of 1.62. The stock has a fifty day moving average price of $82.97 and a 200 day moving average price of $71.05. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) 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 company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. On average, research analysts forecast that MasTec, Inc. will post 2.33 earnings per share for the current year.

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.