Teachers Retirement System of The State of Kentucky Reduces Holdings in MasTec, Inc. (NYSE:MTZ)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,612 shares of the construction company’s stock after selling 530 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in MasTec were worth $2,414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after acquiring an additional 895,227 shares during the period. State Street Corp raised its holdings in MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the period. Hood River Capital Management LLC lifted its position in MasTec by 59.8% during the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock valued at $127,773,000 after purchasing an additional 446,762 shares in the last quarter. Geode Capital Management LLC grew its holdings in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Finally, Point72 Asset Management L.P. increased its position in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after buying an additional 279,778 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Craig Hallum upped their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Robert W. Baird increased their price objective on shares of MasTec from $120.00 to $153.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Citigroup upped their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group raised their price target on MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and an average price target of $149.00.

Insider Buying and Selling

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at $28,080,300. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,823 shares of company stock worth $7,493,301 over the last three months. 21.30% of the stock is owned by insiders.

MasTec Price Performance

NYSE:MTZ opened at $137.78 on Monday. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 123.02 and a beta of 1.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50 day simple moving average of $134.53 and a 200-day simple moving average of $118.55. MasTec, Inc. has a 1 year low of $60.96 and a 1 year high of $150.12.

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.