New York State Common Retirement Fund Cuts Holdings in MasTec, Inc. (NYSE:MTZ)

New York State Common Retirement Fund lessened its stake in MasTec, Inc. (NYSE:MTZ) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,317 shares of the construction company’s stock after selling 6,813 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of MasTec worth $4,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTZ. Raymond James & Associates grew its stake in MasTec by 2.3% in the 3rd quarter. Raymond James & Associates now owns 86,771 shares of the construction company’s stock worth $6,245,000 after buying an additional 1,912 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of MasTec by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 537,773 shares of the construction company’s stock valued at $38,704,000 after purchasing an additional 5,059 shares in the last quarter. Castleview Partners LLC boosted its stake in shares of MasTec by 1,250.0% in the 3rd quarter. Castleview Partners LLC now owns 1,350 shares of the construction company’s stock valued at $97,000 after purchasing an additional 1,250 shares in the last quarter. Strs Ohio boosted its stake in shares of MasTec by 30.1% in the 3rd quarter. Strs Ohio now owns 17,859 shares of the construction company’s stock valued at $1,285,000 after purchasing an additional 4,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of MasTec by 9.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 415,190 shares of the construction company’s stock valued at $29,881,000 after purchasing an additional 35,997 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 11.9 %

Shares of NYSE MTZ opened at $101.80 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $123.33. The firm has a market capitalization of $8.09 billion, a PE ratio of -727.14 and a beta of 1.61. The firm has a fifty day simple moving average of $87.95 and a two-hundred day simple moving average of $73.05.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. MasTec had a negative net margin of 0.09% and a positive return on equity of 6.18%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Equities analysts expect that MasTec, Inc. will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MTZ shares. KeyCorp upped their price objective on shares of MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. UBS Group upped their price objective on shares of MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group upped their price objective on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price objective on shares of MasTec in a research note on Monday, March 4th. Finally, Robert W. Baird upped their price target on shares of MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.85.

MasTec 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.