Louisiana State Employees Retirement System Has $2.11 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Louisiana State Employees Retirement System cut its position in shares of MasTec, Inc. (NYSE:MTZ) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,100 shares of the construction company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in MasTec were worth $2,105,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of MasTec during the 1st quarter worth about $785,000. Swedbank AB acquired a new position in MasTec in the 1st quarter valued at about $5,287,000. Interval Partners LP acquired a new position in MasTec in the 1st quarter valued at about $4,230,000. Boston Partners acquired a new position in MasTec in the 1st quarter valued at about $748,000. Finally, Texas Permanent School Fund Corp grew its stake in MasTec by 8.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,522 shares of the construction company’s stock valued at $6,154,000 after buying an additional 4,716 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Stock Performance

Shares of MasTec stock opened at $122.07 on Wednesday. The company has a 50 day moving average of $118.21 and a 200-day moving average of $108.94. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $130.22. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. The company has a market cap of $9.70 billion, a PE ratio of -871.93 and a beta of 1.70.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. As a group, equities research analysts forecast that MasTec, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert E. Apple sold 800 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $130.04, for a total transaction of $104,032.00. Following the completion of the transaction, the chief operating officer now owns 216,402 shares of the company’s stock, valued at approximately $28,140,916.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock worth $2,978,212 in the last three months. 21.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. KeyCorp upped their price target on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on shares of MasTec in a research note on Monday, October 7th. They issued an “overweight” rating and a $153.00 price target on the stock. UBS Group upped their price target on shares of MasTec from $129.00 to $147.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial boosted their price objective on shares of MasTec from $112.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, B. Riley boosted their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.00.

MasTec Company 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.