Retirement Systems of Alabama Has $13.91 Million Holdings in MasTec, Inc. (NYSE:MTZ)

Retirement Systems of Alabama lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 16.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,689 shares of the construction company’s stock after buying an additional 25,534 shares during the period. Retirement Systems of Alabama’s holdings in MasTec were worth $13,909,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. CWM LLC grew its stake in shares of MasTec by 152.4% in the third quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after purchasing an additional 317 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of MasTec in the third quarter worth $41,000. Itau Unibanco Holding S.A. bought a new stake in shares of MasTec in the third quarter worth $43,000. Castleview Partners LLC grew its stake in shares of MasTec by 1,250.0% in the third quarter. Castleview Partners LLC now owns 1,350 shares of the construction company’s stock worth $97,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Cetera Trust Company N.A bought a new stake in shares of MasTec in the fourth quarter worth $160,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

MTZ stock opened at $88.42 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $123.33. The stock has a market capitalization of $7.03 billion, a PE ratio of -133.97 and a beta of 1.62. The company’s 50-day moving average is $86.96 and its 200-day moving average is $72.64.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share 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 analyst estimates of $3.26 billion. Equities research analysts expect that MasTec, Inc. will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MTZ shares. Citigroup boosted their price objective on shares of MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Craig Hallum raised shares of MasTec from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $96.00 in a research report on Monday, March 4th. KeyCorp upped their price target on shares of MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. TD Cowen upped their price target on shares of MasTec from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group upped their price target on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.85.

MasTec 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.