New York State Common Retirement Fund Sells 9,762 Shares of MasTec, Inc. $MTZ

New York State Common Retirement Fund reduced its position in MasTec, Inc. (NYSE:MTZ) by 24.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,929 shares of the construction company’s stock after selling 9,762 shares during the period. New York State Common Retirement Fund’s holdings in MasTec were worth $6,582,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MTZ. Salomon & Ludwin LLC lifted its position in shares of MasTec by 344.4% in the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Caldwell Trust Co bought a new stake in MasTec in the 2nd quarter valued at $29,000. Parkside Financial Bank & Trust raised its stake in MasTec by 253.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock valued at $33,000 after acquiring an additional 137 shares during the period. Ameritas Advisory Services LLC acquired a new stake in MasTec during the 2nd quarter valued at $35,000. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in MasTec during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

NYSE MTZ opened at $244.37 on Friday. The firm has a 50-day moving average price of $228.57 and a two-hundred day moving average price of $206.16. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $252.23. The company has a market capitalization of $19.28 billion, a P/E ratio of 58.05 and a beta of 1.94. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69.

Analysts Set New Price Targets

Several equities analysts have commented on MTZ shares. Citigroup upped their price objective on shares of MasTec from $248.00 to $284.00 and gave the company a “buy” rating in a report on Monday, January 26th. JPMorgan Chase & Co. upped their price target on shares of MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. KeyCorp restated an “overweight” rating and set a $264.00 price objective on shares of MasTec in a research report on Wednesday, January 7th. Guggenheim restated a “neutral” rating and set a $215.00 price objective on shares of MasTec in a report on Wednesday, October 15th. Finally, Mizuho set a $254.00 target price on MasTec in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $238.16.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.