Teacher Retirement System of Texas Purchases 18,425 Shares of MasTec, Inc. (NYSE:MTZ)

Teacher Retirement System of Texas lifted its position in shares of MasTec, Inc. (NYSE:MTZ) by 119.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,862 shares of the construction company’s stock after purchasing an additional 18,425 shares during the period. Teacher Retirement System of Texas’ holdings in MasTec were worth $4,610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MTZ. Wilmington Savings Fund Society FSB acquired a new position in MasTec during the third quarter worth approximately $25,000. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after acquiring an additional 116 shares during the period. Smartleaf Asset Management LLC lifted its holdings in MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after purchasing an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after purchasing an additional 190 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Price Performance

Shares of NYSE:MTZ opened at $131.93 on Tuesday. The firm has a 50 day moving average of $135.32 and a 200-day moving average of $133.09. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $10.46 billion, a PE ratio of 117.80 and a beta of 1.74.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, equities research analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Guggenheim started coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. Citigroup boosted their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird reduced their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

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.