Retirement Systems of Alabama raised its position in MasTec, Inc. (NYSE:MTZ – Free Report) by 16.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 183,689 shares of the construction company’s stock after buying an additional 25,534 shares during the period. Retirement Systems of Alabama owned about 0.23% of MasTec worth $13,909,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of MTZ. CWM LLC boosted its position in shares of MasTec by 152.4% in the 3rd quarter. CWM LLC now owns 525 shares of the construction company’s stock worth $38,000 after purchasing an additional 317 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of MasTec in the 3rd quarter worth $41,000. Itau Unibanco Holding S.A. bought a new position in shares of MasTec in the 3rd quarter worth $43,000. Castleview Partners LLC boosted its position 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 worth $97,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Cetera Trust Company N.A bought a new position in shares of MasTec in the 4th quarter worth $160,000. 78.10% of the stock is currently owned by institutional investors.
MasTec Stock Performance
MTZ opened at $88.42 on Thursday. The business’s 50-day moving average price is $86.96 and its two-hundred day moving average price is $72.64. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $123.33. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of -133.97 and a beta of 1.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on MTZ shares. TD Cowen raised their price target on MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. KeyCorp raised their price target on MasTec from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Craig Hallum raised MasTec from a “hold” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $96.00 in a research note on Monday, March 4th. Barclays raised their price objective on MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Citigroup raised their price objective on MasTec from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.85.
Read Our Latest Research Report on MTZ
About MasTec
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.
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