New York State Common Retirement Fund Reduces Holdings in MasTec, Inc. (NYSE:MTZ)

New York State Common Retirement Fund trimmed its position in shares of MasTec, Inc. (NYSE:MTZ) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,317 shares of the construction company’s stock after selling 6,813 shares during the quarter. New York State Common Retirement Fund’s holdings in MasTec were worth $4,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of MasTec by 1.5% during the third quarter. Arizona State Retirement System now owns 17,963 shares of the construction company’s stock valued at $1,293,000 after purchasing an additional 258 shares during the period. Schechter Investment Advisors LLC boosted its stake in shares of MasTec by 1.0% during the third quarter. Schechter Investment Advisors LLC now owns 28,505 shares of the construction company’s stock valued at $2,052,000 after purchasing an additional 280 shares during the period. CWM LLC boosted its stake in shares of MasTec by 59.4% during the fourth quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after purchasing an additional 312 shares during the period. D.A. Davidson & CO. boosted its stake in shares of MasTec by 11.0% during the third quarter. D.A. Davidson & CO. now owns 3,394 shares of the construction company’s stock valued at $244,000 after purchasing an additional 336 shares during the period. Finally, Glenview Trust co boosted its stake in shares of MasTec by 13.5% during the third quarter. Glenview Trust co now owns 3,104 shares of the construction company’s stock valued at $223,000 after purchasing an additional 370 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Trading Up 11.9 %

NYSE:MTZ opened at $101.80 on Friday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of -727.14 and a beta of 1.61. MasTec, Inc. has a 52 week low of $44.65 and a 52 week high of $123.33. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $87.95 and a 200 day moving average of $73.05.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 6.18% and a negative net margin of 0.09%. As a group, sell-side analysts anticipate that MasTec, Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTZ. The Goldman Sachs Group boosted their target price on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. KeyCorp lifted their price objective on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. DA Davidson restated a “buy” rating and issued a $70.00 price objective on shares of MasTec in a report on Monday, March 4th. UBS Group lifted their price objective on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Robert W. Baird lifted their price objective on MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.85.

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.