MasTec, Inc. (NYSE:MTZ) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in shares of MasTec, Inc. (NYSE:MTZ) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,842 shares of the construction company’s stock after buying an additional 8,689 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of MasTec worth $3,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in MasTec by 152.4% during the third quarter. CWM LLC now owns 525 shares of the construction company’s stock valued at $38,000 after purchasing an additional 317 shares in the last quarter. Headlands Technologies LLC purchased a new position in MasTec during the third quarter valued at $41,000. Itau Unibanco Holding S.A. purchased a new position in MasTec during the third quarter valued at $43,000. Castleview Partners LLC lifted its holdings in MasTec by 1,250.0% during the third quarter. Castleview Partners LLC now owns 1,350 shares of the construction company’s stock valued at $97,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new position in MasTec during the fourth quarter valued at $160,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MTZ. The Goldman Sachs Group increased their price objective on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, February 9th. DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of MasTec in a research note on Monday, March 4th. Robert W. Baird raised their price target on shares of MasTec from $70.00 to $89.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Truist Financial initiated coverage on shares of MasTec in a research note on Thursday, March 14th. They issued a “hold” rating and a $96.00 price target on the stock. Finally, Barclays raised their price target on shares of MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.85.

MasTec Price Performance

Shares of MTZ stock opened at $89.04 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’s 50-day moving average is $85.84 and its two-hundred day moving average is $72.14. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a market capitalization of $7.08 billion, a PE ratio of -134.91 and a beta of 1.62.

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

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.