California Public Employees Retirement System Decreases Stake in MasTec, Inc. (NYSE:MTZ)

California Public Employees Retirement System cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,779 shares of the construction company’s stock after selling 3,450 shares during the quarter. California Public Employees Retirement System owned about 0.13% of MasTec worth $14,537,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MTZ. Allworth Financial LP boosted its holdings in shares of MasTec by 15.1% during the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after purchasing an additional 78 shares during the last quarter. Arizona State Retirement System boosted its stake in MasTec by 0.5% during the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock worth $2,504,000 after buying an additional 89 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in MasTec by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after buying an additional 94 shares in the last quarter. Fielder Capital Group LLC increased its stake in shares of MasTec by 6.1% in the 4th quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock worth $247,000 after acquiring an additional 105 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of MasTec by 29.8% during the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock worth $67,000 after acquiring an additional 113 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 5.5 %

Shares of MTZ opened at $105.87 on Friday. The company’s 50-day simple moving average is $128.35 and its 200-day simple moving average is $133.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95. The stock has a market capitalization of $8.39 billion, a PE ratio of 94.53 and a beta of 1.74.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares of the company’s stock, valued at $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MTZ has been the subject of several recent analyst reports. Guggenheim restated a “buy” rating and set a $195.00 price objective on shares of MasTec in a research report on Tuesday, March 25th. Wolfe Research assumed coverage on shares of MasTec in a report on Monday, March 31st. They set a “peer perform” rating for the company. B. Riley reiterated a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. KeyCorp raised their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus decreased their price target on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

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.