Teacher Retirement System of Texas Buys 1,716 Shares of MasTec, Inc. (NYSE:MTZ)

Posted by on Jun 12th, 2023

Teacher Retirement System of Texas increased its holdings in shares of MasTec, Inc. (NYSE:MTZ – Get Rating) by 21.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,882 shares of the construction company’s stock after buying an additional 1,716 shares during the quarter. Teacher Retirement System of Texas’ holdings in MasTec were worth $843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MTZ. Capital Analysts LLC bought a new position in MasTec during the 4th quarter valued at approximately $26,000. Exchange Traded Concepts LLC bought a new stake in shares of MasTec during the fourth quarter valued at approximately $27,000. Pinebridge Investments L.P. acquired a new position in shares of MasTec during the fourth quarter worth $27,000. Huntington National Bank boosted its holdings in MasTec by 54.5% in the fourth quarter. Huntington National Bank now owns 411 shares of the construction company’s stock valued at $35,000 after purchasing an additional 145 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of MasTec by 40.1% during the 1st quarter. Covestor Ltd now owns 507 shares of the construction company’s stock worth $44,000 after purchasing an additional 145 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTZ. Robert W. Baird lifted their price objective on shares of MasTec from $120.00 to $125.00 in a research report on Monday, May 8th. Craig Hallum raised shares of MasTec from a “hold” rating to a “buy” rating and raised their price target for the company from $97.00 to $113.00 in a report on Monday, May 8th. Credit Suisse Group cut their price objective on shares of MasTec from $122.00 to $121.00 and set an “outperform” rating on the stock in a research report on Monday, February 27th. TD Cowen lifted their target price on shares of MasTec from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, March 6th. Finally, B. Riley boosted their target price on shares of MasTec from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.60.

MasTec Price Performance

Shares of MTZ stock opened at $110.01 on Monday. MasTec, Inc. has a fifty-two week low of $62.36 and a fifty-two week high of $112.18. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of -687.52 and a beta of 1.36. The stock’s 50-day simple moving average is $93.67 and its 200-day simple moving average is $92.97. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.47 and a current ratio of 1.54.

MasTec (NYSE:MTZ – Get Rating) last posted its earnings results on Thursday, May 4th. The construction company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.01. MasTec had a positive return on equity of 6.60% and a negative net margin of 0.12%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.39 billion. As a group, equities analysts forecast that MasTec, Inc. will post 4.11 earnings per share for the current fiscal year.

MasTec Profile

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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.

Further Reading

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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