Retirement Systems of Alabama Cuts Stock Position in MasTec, Inc. (NYSE:MTZ)

Retirement Systems of Alabama trimmed its holdings in MasTec, Inc. (NYSE:MTZ) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,756 shares of the construction company’s stock after selling 236 shares during the period. Retirement Systems of Alabama’s holdings in MasTec were worth $9,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after purchasing an additional 895,227 shares in the last quarter. State Street Corp raised its position in shares of MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after buying an additional 24,522 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of MasTec by 59.8% in the second quarter. Hood River Capital Management LLC now owns 1,194,250 shares of the construction company’s stock worth $127,773,000 after buying an additional 446,762 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after acquiring an additional 16,844 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after acquiring an additional 279,778 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

MasTec stock opened at $139.80 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a market capitalization of $11.08 billion, a P/E ratio of 124.82 and a beta of 1.72. MasTec, Inc. has a 1-year low of $60.96 and a 1-year high of $150.12. The company’s 50-day moving average is $134.73 and its 200 day moving average is $118.75.

Analyst Upgrades and Downgrades

Several research analysts have commented on MTZ shares. KeyCorp increased their price objective on shares of MasTec from $123.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price target on MasTec from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. UBS Group upped their price objective on MasTec from $129.00 to $147.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Citigroup boosted their price target on shares of MasTec from $122.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.00.

Insider Activity

In other news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the sale, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert E. Apple sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 187,202 shares in the company, valued at $28,080,300. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,823 shares of company stock valued at $7,493,301. 21.30% of the stock is currently owned by insiders.

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.