Teacher Retirement System of Texas Acquires 33,390 Shares of MasTec, Inc. (NYSE:MTZ)

Teacher Retirement System of Texas raised its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 98.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,252 shares of the construction company's stock after buying an additional 33,390 shares during the period. Teacher Retirement System of Texas owned about 0.09% of MasTec worth $7,849,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC boosted its holdings in MasTec by 335.7% in the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Rothschild Investment LLC boosted its holdings in MasTec by 2,023.1% in the first quarter. Rothschild Investment LLC now owns 276 shares of the construction company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in MasTec in the first quarter worth $35,000. Finally, Smartleaf Asset Management LLC boosted its holdings in MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after purchasing an additional 128 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Trading Down 1.8%

NYSE MTZ traded down $3.07 during trading hours on Tuesday, hitting $168.91. The company's stock had a trading volume of 279,484 shares, compared to its average volume of 943,653. The stock has a fifty day moving average of $157.72 and a 200 day moving average of $140.37. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $174.50. The firm has a market capitalization of $13.33 billion, a P/E ratio of 62.10 and a beta of 1.75. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. MasTec had a net margin of 1.72% and a return on equity of 11.65%. MasTec's revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) earnings per share. Equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director directly owned 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on MTZ shares. Wolfe Research started coverage on shares of MasTec in a report on Monday, March 31st. They issued a "peer perform" rating on the stock. B. Riley reissued a "buy" rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Guggenheim reissued a "buy" rating and issued a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Piper Sandler upped their price objective on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Citigroup upped their price objective on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, MasTec has an average rating of "Buy" and an average price target of $169.29.

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.