Teacher Retirement System of Texas Buys 18,425 Shares of MasTec, Inc. (NYSE:MTZ)

Teacher Retirement System of Texas grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 119.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,862 shares of the construction company’s stock after buying an additional 18,425 shares during the quarter. Teacher Retirement System of Texas’ holdings in MasTec were worth $4,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after acquiring an additional 101 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after purchasing an additional 7,469 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of MasTec during the third quarter worth about $276,000. Cerity Partners LLC raised its holdings in MasTec by 285.4% in the 3rd quarter. Cerity Partners LLC now owns 23,151 shares of the construction company’s stock valued at $2,850,000 after buying an additional 17,144 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in MasTec by 43.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 65,300 shares of the construction company’s stock worth $8,038,000 after buying an additional 19,800 shares during the period. Institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of NYSE MTZ opened at $131.93 on Tuesday. The firm has a market capitalization of $10.46 billion, a P/E ratio of 117.80 and a beta of 1.74. The firm’s 50-day moving average price is $135.32 and its 200-day moving average price is $133.09. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Truist Financial raised their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Citigroup raised their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Stifel Nicolaus reduced their target price on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.