State of New Jersey Common Pension Fund D Raises Stake in MasTec, Inc. (NYSE:MTZ)

State of New Jersey Common Pension Fund D boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,842 shares of the construction company's stock after acquiring an additional 8,689 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of MasTec worth $3,471,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in MasTec by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company's stock valued at $429,670,000 after purchasing an additional 33,592 shares during the last quarter. Nordea Investment Management AB boosted its holdings in MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company's stock valued at $297,006,000 after purchasing an additional 1,027,085 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in MasTec by 0.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company's stock valued at $263,271,000 after purchasing an additional 17,369 shares during the last quarter. Electron Capital Partners LLC boosted its holdings in MasTec by 4.7% in the 3rd quarter. Electron Capital Partners LLC now owns 1,486,335 shares of the construction company's stock valued at $106,972,000 after purchasing an additional 66,589 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in MasTec by 16.2% in the 4th quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company's stock valued at $78,454,000 after purchasing an additional 144,180 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Up 3.3 %

MasTec stock traded up $2.86 during mid-day trading on Friday, reaching $89.04. 536,297 shares of the company's stock were exchanged, compared to its average volume of 628,061. The company has a market cap of $7.08 billion, a P/E ratio of -134.91 and a beta of 1.62. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. 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 company has a fifty day moving average of $85.84 and a 200-day moving average of $72.14.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Truist Financial assumed coverage on shares of MasTec in a report on Thursday, March 14th. They issued a "hold" rating and a $96.00 target price on the stock. Robert W. Baird boosted their target price on shares of MasTec from $70.00 to $89.00 and gave the company a "neutral" rating in a report on Monday, March 4th. DA Davidson restated a "buy" rating and issued a $70.00 price objective on shares of MasTec in a report on Monday, March 4th. UBS Group upped their price objective on shares of MasTec from $89.00 to $92.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Finally, Barclays upped their price objective on shares of MasTec from $55.00 to $106.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and a consensus target price of $96.85.

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.