State of New Jersey Common Pension Fund D Has $18.35 Million Stake in MasTec (MTZ)

State of New Jersey Common Pension Fund D lifted its stake in shares of MasTec (NYSE:MTZ) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,000 shares of the construction company’s stock after purchasing an additional 35,000 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.48% of MasTec worth $18,350,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MasTec by 53.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock worth $166,000 after acquiring an additional 1,175 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in MasTec by 81.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock worth $128,000 after acquiring an additional 1,179 shares during the period. UBS Asset Management Americas Inc. grew its holdings in MasTec by 2.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 51,280 shares of the construction company’s stock worth $2,510,000 after acquiring an additional 1,369 shares during the period. US Bancorp DE grew its holdings in MasTec by 3.3% during the fourth quarter. US Bancorp DE now owns 48,852 shares of the construction company’s stock worth $2,391,000 after acquiring an additional 1,558 shares during the period. Finally, Columbia Partners L L C Investment Management grew its holdings in MasTec by 2.5% during the fourth quarter. Columbia Partners L L C Investment Management now owns 66,759 shares of the construction company’s stock worth $3,267,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 82.27% of the company’s stock.

MasTec opened at $49.35 on Friday, Marketbeat reports. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.99 and a beta of 1.57. MasTec has a fifty-two week low of $38.40 and a fifty-two week high of $55.53.

MasTec (NYSE:MTZ) last posted its earnings results on Monday, April 30th. The construction company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.14. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.24 billion. MasTec had a return on equity of 15.48% and a net margin of 4.86%. MasTec’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. equities analysts predict that MasTec will post 3.56 EPS for the current year.

A number of research analysts recently weighed in on MTZ shares. Zacks Investment Research raised MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a report on Friday, January 19th. ValuEngine lowered MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Credit Suisse Group dropped their price objective on MasTec from $70.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, May 2nd. Robert W. Baird dropped their price objective on MasTec from $55.00 to $51.00 and set a “hold” rating on the stock in a report on Tuesday, May 1st. Finally, DA Davidson upped their price objective on MasTec to $65.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $60.15.

In related news, EVP Cardenas Alberto De sold 15,000 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $49.55, for a total transaction of $743,250.00. Following the sale, the executive vice president now owns 110,502 shares of the company’s stock, valued at $5,475,374.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Julia L. Johnson sold 29,607 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $51.11, for a total value of $1,513,213.77. Following the sale, the director now directly owns 72,921 shares in the company, valued at approximately $3,726,992.31. The disclosure for this sale can be found here. 20.10% of the stock is owned by company insiders.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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