Illinois Municipal Retirement Fund Sells 1,956 Shares of MasTec, Inc. $MTZ

Illinois Municipal Retirement Fund reduced its position in MasTec, Inc. (NYSE:MTZ) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,798 shares of the construction company’s stock after selling 1,956 shares during the period. Illinois Municipal Retirement Fund’s holdings in MasTec were worth $5,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MTZ. Versant Capital Management Inc boosted its position in MasTec by 4.9% in the third quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock worth $232,000 after purchasing an additional 51 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of MasTec by 22.5% in the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock worth $58,000 after purchasing an additional 62 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in shares of MasTec by 1.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 6,089 shares of the construction company’s stock worth $1,296,000 after buying an additional 86 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in MasTec by 4.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,130 shares of the construction company’s stock valued at $453,000 after buying an additional 91 shares during the period. Finally, Salomon & Ludwin LLC increased its holdings in MasTec by 344.4% during the third quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 29th. Cantor Fitzgerald began coverage on MasTec in a research report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 price target for the company. Stifel Nicolaus raised their price objective on MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Barclays boosted their price objective on MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, MasTec currently has a consensus rating of “Buy” and a consensus target price of $238.16.

MasTec Price Performance

Shares of MasTec stock opened at $269.88 on Friday. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 64.11 and a beta of 1.94. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $234.33 and its 200-day simple moving average is $209.74. MasTec, Inc. has a 52 week low of $99.70 and a 52 week high of $276.79.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.