Teacher Retirement System of Texas Has $11.73 Million Stock Holdings in MasTec, Inc. $MTZ

Teacher Retirement System of Texas increased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,817 shares of the construction company’s stock after buying an additional 1,565 shares during the period. Teacher Retirement System of Texas owned about 0.09% of MasTec worth $11,728,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Hill City Capital LP lifted its position in shares of MasTec by 0.7% in the 1st quarter. Hill City Capital LP now owns 2,145,000 shares of the construction company’s stock worth $250,343,000 after purchasing an additional 15,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MasTec by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,695 shares of the construction company’s stock worth $142,331,000 after purchasing an additional 39,622 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of MasTec by 163.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock worth $121,843,000 after purchasing an additional 648,184 shares during the period. AQR Capital Management LLC lifted its position in shares of MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company’s stock worth $106,234,000 after purchasing an additional 184,277 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of MasTec by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company’s stock worth $65,440,000 after purchasing an additional 4,024 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTZ has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of MasTec from $215.00 to $244.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup boosted their price target on shares of MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. KeyCorp boosted their price target on shares of MasTec from $205.00 to $236.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of MasTec in a research note on Wednesday, October 8th. Finally, DA Davidson set a $210.00 price objective on shares of MasTec and gave the company a “buy” rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $221.89.

MasTec Stock Performance

Shares of MTZ stock opened at $221.69 on Thursday. The firm has a market capitalization of $17.49 billion, a PE ratio of 65.59 and a beta of 1.82. The firm has a fifty day simple moving average of $198.10 and a two-hundred day simple moving average of $173.45. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $222.94.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.08. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.40 billion. MasTec had a net margin of 2.04% and a return on equity of 12.71%. MasTec’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS. Analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling at MasTec

In other MasTec news, COO Robert E. Apple sold 10,000 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the completion of the sale, the chief operating officer owned 184,249 shares in the company, valued at approximately $36,930,869.56. The trade was a 5.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Cardenas Alberto De sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $180.69, for a total transaction of $1,806,900.00. Following the sale, the executive vice president owned 101,349 shares of the company’s stock, valued at $18,312,750.81. This trade represents a 8.98% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 25,000 shares of company stock worth $4,803,250. 21.30% of the stock is owned by corporate insiders.

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.