State of New Jersey Common Pension Fund D Has $2.67 Million Stake in MasTec, Inc. (NYSE:MTZ)

State of New Jersey Common Pension Fund D lowered its position in MasTec, Inc. (NYSE:MTZGet Rating) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 30,665 shares of the construction company’s stock after selling 1,447 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MasTec were worth $2,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MTZ. Nordea Investment Management AB raised its stake in MasTec by 21.8% during the first quarter. Nordea Investment Management AB now owns 3,160,052 shares of the construction company’s stock worth $273,123,000 after buying an additional 565,274 shares during the last quarter. State Street Corp increased its stake in MasTec by 1.8% in the fourth quarter. State Street Corp now owns 1,438,553 shares of the construction company’s stock valued at $132,750,000 after purchasing an additional 25,110 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in MasTec by 34.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 894,753 shares of the construction company’s stock valued at $82,568,000 after purchasing an additional 230,953 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in MasTec by 2.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 832,041 shares of the construction company’s stock valued at $76,781,000 after purchasing an additional 22,253 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in MasTec by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 717,627 shares of the construction company’s stock valued at $66,222,000 after purchasing an additional 20,618 shares in the last quarter. Institutional investors and hedge funds own 68.44% of the company’s stock.

MasTec Stock Down 0.0 %

MTZ opened at $78.93 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 25.54 and a beta of 1.29. MasTec, Inc. has a twelve month low of $62.64 and a twelve month high of $104.45. The company’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $80.51.

MasTec (NYSE:MTZGet Rating) last released its earnings results on Thursday, May 5th. The construction company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.79 billion. MasTec had a net margin of 2.81% and a return on equity of 12.91%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 earnings per share. As a group, equities analysts expect that MasTec, Inc. will post 3.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MTZ has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of MasTec from $116.00 to $100.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Craig Hallum reduced their price objective on shares of MasTec from $108.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 26th. TheStreet cut shares of MasTec from a “b-” rating to a “c” rating in a report on Monday, May 16th. Credit Suisse Group reduced their price objective on shares of MasTec from $103.00 to $102.00 and set an “outperform” rating for the company in a report on Tuesday, July 26th. Finally, B. Riley reduced their price objective on shares of MasTec from $97.00 to $86.00 and set a “maintains” rating for the company in a report on Tuesday, July 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.09.

About MasTec

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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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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