Illinois Municipal Retirement Fund trimmed its stake in shares of MasTec, Inc. (NYSE:MTZ) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,953 shares of the construction company’s stock after selling 1,651 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MasTec were worth $2,244,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in MTZ. Schonfeld Strategic Advisors LLC purchased a new stake in MasTec during the 3rd quarter worth about $789,000. Burney Co. purchased a new stake in MasTec during the 3rd quarter worth about $330,000. First Hawaiian Bank purchased a new stake in MasTec during the 4th quarter worth about $201,000. Endurance Wealth Management Inc. lifted its holdings in shares of MasTec by 14.5% in the 4th quarter. Endurance Wealth Management Inc. now owns 5,121 shares of the construction company’s stock valued at $349,000 after purchasing an additional 650 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in shares of MasTec by 35.9% in the 4th quarter. DNB Asset Management AS now owns 545,960 shares of the construction company’s stock valued at $37,224,000 after purchasing an additional 144,252 shares during the last quarter. 82.52% of the stock is owned by institutional investors.
NYSE:MTZ opened at $105.81 on Tuesday. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 25.31 and a beta of 1.38. MasTec, Inc. has a one year low of $29.17 and a one year high of $107.95. The stock has a 50-day simple moving average of $97.02 and a 200 day simple moving average of $77.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.49 and a current ratio of 1.54.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 25th. The construction company reported $1.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.13. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.81 billion. MasTec had a net margin of 4.86% and a return on equity of 18.75%. On average, equities research analysts forecast that MasTec, Inc. will post 4.82 EPS for the current fiscal year.
In related news, COO Robert E. Apple sold 35,406 shares of MasTec stock in a transaction on Friday, March 5th. The shares were sold at an average price of $92.23, for a total value of $3,265,495.38. Also, COO Robert E. Apple sold 16,422 shares of MasTec stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $95.83, for a total transaction of $1,573,720.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,879 shares of company stock worth $7,383,126. Corporate insiders own 23.90% of the company’s stock.
Several analysts have recently weighed in on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on MasTec from $103.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 27th. Credit Suisse Group upped their price objective on MasTec from $105.00 to $114.00 and gave the company an “outperform” rating in a research note on Monday, March 8th. Citigroup upped their price objective on MasTec from $103.00 to $118.00 in a research note on Wednesday, April 21st. Barclays upped their price objective on MasTec from $75.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, March 8th. Finally, B. Riley upped their price objective on MasTec from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $79.85.
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, Electrical Transmission, and Other.
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