MasTec, Inc. (NYSE:MTZ) Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,779 shares of the construction company's stock after selling 3,450 shares during the period. California Public Employees Retirement System owned approximately 0.13% of MasTec worth $14,537,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in MasTec during the fourth quarter worth about $59,910,000. Pictet Asset Management Holding SA boosted its stake in shares of MasTec by 11.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,950 shares of the construction company's stock worth $1,355,000 after acquiring an additional 1,046 shares in the last quarter. Norges Bank acquired a new stake in shares of MasTec in the 4th quarter worth approximately $7,663,000. Blair William & Co. IL purchased a new position in MasTec in the 4th quarter valued at approximately $201,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in MasTec in the 4th quarter valued at approximately $152,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Trading Up 14.1 %

MTZ stock traded up $15.08 on Wednesday, hitting $121.90. 1,571,331 shares of the company were exchanged, compared to its average volume of 931,921. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business's fifty day moving average is $125.67 and its two-hundred day moving average is $133.12. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 108.84 and a beta of 1.62.

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MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.30% of the company's stock.

Analysts Set New Price Targets

MTZ has been the subject of several recent research reports. B. Riley restated a "buy" rating and set a $165.00 target price (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Piper Sandler assumed coverage on MasTec in a research report on Tuesday. They set an "overweight" rating and a $134.00 price objective for the company. KeyCorp upped their target price on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Wolfe Research began coverage on MasTec in a report on Monday, March 31st. They issued a "peer perform" rating for the company. Finally, Stifel Nicolaus decreased their price objective on MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday. Three equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.87.

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.