Treasurer of the State of North Carolina Grows Stock Position in MasTec, Inc. (NYSE:MTZ)

Treasurer of the State of North Carolina boosted its position in MasTec, Inc. (NYSE:MTZ) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,550 shares of the construction company’s stock after purchasing an additional 170 shares during the period. Treasurer of the State of North Carolina’s holdings in MasTec were worth $3,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MTZ. Arrowstreet Capital Limited Partnership acquired a new position in shares of MasTec during the 4th quarter worth $59,910,000. Barclays PLC increased its stake in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after acquiring an additional 209,472 shares during the last quarter. Prudential Financial Inc. raised its position in shares of MasTec by 52.4% in the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company’s stock worth $55,162,000 after buying an additional 139,235 shares during the period. Raymond James Financial Inc. purchased a new position in MasTec in the fourth quarter valued at approximately $17,776,000. Finally, Renaissance Technologies LLC acquired a new stake in MasTec in the 4th quarter valued at $16,571,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

MTZ has been the topic of a number of recent research reports. Barclays boosted their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Citigroup lifted their price objective on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Piper Sandler assumed coverage on MasTec in a report on Tuesday, April 8th. They issued an “overweight” rating and a $134.00 price target on the stock. Stifel Nicolaus decreased their target price on shares of MasTec from $175.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Truist Financial lowered their target price on shares of MasTec from $197.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.87.

MasTec Stock Up 0.1 %

NYSE:MTZ opened at $118.36 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The business’s fifty day moving average price is $123.75 and its 200 day moving average price is $132.95. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 105.68 and a beta of 1.62.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The business had revenue of $3.40 billion for 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, sell-side analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.