New York State Teachers Retirement System Has $4.40 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

New York State Teachers Retirement System increased its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,307 shares of the construction company's stock after purchasing an additional 5,750 shares during the quarter. New York State Teachers Retirement System's holdings in MasTec were worth $4,398,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec during the 4th quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of MasTec in the 3rd quarter valued at about $25,000. R Squared Ltd acquired a new position in shares of MasTec in the 4th quarter valued at about $44,000. True Wealth Design LLC acquired a new position in shares of MasTec in the 3rd quarter valued at about $57,000. Finally, UMB Bank n.a. lifted its stake in shares of MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock valued at $67,000 after purchasing an additional 113 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Robert E. Apple sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now owns 187,202 shares in the company, valued at $28,080,300. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the director now owns 42,478 shares of the company's stock, valued at $6,159,310. This trade represents a 6.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Robert W. Baird boosted their price target on MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Craig Hallum boosted their price target on MasTec from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. TD Cowen boosted their price target on MasTec from $115.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, B. Riley reissued a "buy" rating and set a $166.00 price target (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.57.

MasTec Stock Performance

NYSE:MTZ traded down $6.43 during mid-day trading on Friday, hitting $126.35. 1,179,244 shares of the company's stock traded hands, compared to its average volume of 970,119. The firm has a 50 day moving average of $142.48 and a two-hundred day moving average of $130.49. MasTec, Inc. has a 12 month low of $69.80 and a 12 month high of $166.95. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 112.81 and a beta of 1.73. 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 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.