Louisiana State Employees Retirement System Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Louisiana State Employees Retirement System bought a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,000 shares of the construction company's stock, valued at approximately $1,287,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MTZ. Nordea Investment Management AB lifted its stake in MasTec by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company's stock worth $297,006,000 after purchasing an additional 1,027,085 shares during the last quarter. CI Investments Inc. lifted its stake in MasTec by 44,834.1% during the third quarter. CI Investments Inc. now owns 798,029 shares of the construction company's stock worth $57,434,000 after purchasing an additional 796,253 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in MasTec by 7,110.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company's stock worth $25,848,000 after purchasing an additional 354,163 shares during the last quarter. Schroder Investment Management Group lifted its stake in MasTec by 142.0% during the third quarter. Schroder Investment Management Group now owns 315,272 shares of the construction company's stock worth $22,690,000 after purchasing an additional 185,020 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in MasTec during the third quarter worth $11,609,000. Institutional investors and hedge funds own 78.10% of the company's stock.

MasTec Trading Down 0.8 %

MasTec stock traded down $0.66 during trading hours on Monday, reaching $83.76. 627,925 shares of the company's stock were exchanged, compared to its average volume of 921,121. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The firm's 50 day simple moving average is $84.67 and its 200 day simple moving average is $71.66. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. The firm has a market capitalization of $6.66 billion, a PE ratio of -126.91 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Research analysts predict that MasTec, Inc. will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on MTZ shares. DA Davidson reiterated a "buy" rating and issued a $70.00 price target on shares of MasTec in a research note on Monday, March 4th. Truist Financial started coverage on MasTec in a research note on Thursday, March 14th. They issued a "hold" rating and a $96.00 price target for the company. KeyCorp increased their price target on MasTec from $92.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, March 4th. Citigroup increased their price target on MasTec from $99.00 to $104.00 and gave the company a "buy" rating in a research note on Monday. Finally, The Goldman Sachs Group increased their price target on MasTec from $54.00 to $61.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $96.85.

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.