MasTec, Inc. (NYSE:MTZ) Shares Sold by Texas Permanent School Fund

Posted by on May 8th, 2023

Texas Permanent School Fund cut its holdings in shares of MasTec, Inc. (NYSE:MTZ – Get Rating) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,639 shares of the construction company’s stock after selling 1,461 shares during the quarter. Texas Permanent School Fund owned about 0.05% of MasTec worth $3,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of MasTec by 2.4% in the 1st quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company’s stock valued at $489,168,000 after purchasing an additional 134,201 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MasTec by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock valued at $480,724,000 after acquiring an additional 447,376 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of MasTec by 1.1% during the 2nd quarter. Macquarie Group Ltd. now owns 2,372,108 shares of the construction company’s stock valued at $169,985,000 after acquiring an additional 25,878 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of MasTec by 16.5% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,595,595 shares of the construction company’s stock valued at $101,320,000 after acquiring an additional 225,547 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of MasTec by 6.0% during the 1st quarter. State Street Corp now owns 1,525,360 shares of the construction company’s stock valued at $132,859,000 after acquiring an additional 86,807 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $89.33 on Monday. MasTec, Inc. has a 1-year low of $62.36 and a 1-year high of $103.50. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of -558.28 and a beta of 1.36. The stock’s fifty day simple moving average is $91.34 and its 200-day simple moving average is $90.42.

MasTec (NYSE:MTZ – Get Rating) last issued its earnings results on Thursday, February 23rd. The construction company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.02. MasTec had a positive return on equity of 6.63% and a negative net margin of 0.12%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.92 billion. On average, sell-side analysts predict that MasTec, Inc. will post 4.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of MasTec from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, March 6th. Credit Suisse Group cut their target price on MasTec from $122.00 to $121.00 and set an “outperform” rating on the stock in a research report on Monday, February 27th. Barclays increased their target price on MasTec from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. B. Riley upped their price target on shares of MasTec from $112.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Finally, Craig Hallum cut shares of MasTec from a “buy” rating to a “hold” rating and set a $97.00 price target on the stock. in a report on Monday, February 27th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.18.

MasTec Company Profile

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MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.

See Also

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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