Teacher Retirement System of Texas Acquires 18,425 Shares of MasTec, Inc. (NYSE:MTZ)

Teacher Retirement System of Texas boosted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 119.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,862 shares of the construction company's stock after buying an additional 18,425 shares during the period. Teacher Retirement System of Texas' holdings in MasTec were worth $4,610,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its position in MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after buying an additional 24,522 shares during the last quarter. Geode Capital Management LLC raised its stake in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock valued at $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock worth $94,096,000 after acquiring an additional 279,778 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of MasTec by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock valued at $77,592,000 after purchasing an additional 7,469 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of MasTec by 25.9% during the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock worth $75,787,000 after buying an additional 114,502 shares during the last quarter. Institutional investors own 78.10% of the company's stock.

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MasTec Stock Down 2.4 %

NYSE MTZ traded down $3.22 during trading hours on Tuesday, hitting $128.46. The company's stock had a trading volume of 954,043 shares, compared to its average volume of 872,335. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company's 50-day simple moving average is $134.87 and its two-hundred day simple moving average is $133.31. The company has a market capitalization of $10.19 billion, a PE ratio of 114.70 and a beta of 1.74. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial boosted their price objective on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. KeyCorp raised their price target on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Robert W. Baird lowered their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Citigroup upped their target price on MasTec from $156.00 to $167.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, MasTec currently has an average rating of "Moderate Buy" and an average target price of $160.07.

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.