State of New Jersey Common Pension Fund D Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

State of New Jersey Common Pension Fund D reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,217 shares of the construction company’s stock after selling 580 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MasTec were worth $3,025,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in MasTec during the third quarter worth approximately $25,000. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec in the fourth quarter valued at $25,000. R Squared Ltd purchased a new position in shares of MasTec in the fourth quarter valued at $44,000. True Wealth Design LLC purchased a new position in shares of MasTec in the third quarter valued at $57,000. Finally, UMB Bank n.a. boosted its stake in shares of MasTec by 29.8% in the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after purchasing an additional 113 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Down 2.1 %

Shares of NYSE:MTZ opened at $132.36 on Friday. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 118.18 and a beta of 1.73. MasTec, Inc. has a 1-year low of $68.89 and a 1-year high of $166.95. The company’s fifty day moving average is $142.48 and its two-hundred day moving average is $130.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the 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 sale, the director now directly owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the 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 sale, the chief operating officer now directly owns 187,202 shares in the company, valued at approximately $28,080,300. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MTZ has been the subject of several analyst reports. Craig Hallum upped their target price on shares of MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. B. Riley restated a “buy” rating and issued a $166.00 target price (up from $151.00) on shares of MasTec in a research note on Tuesday, November 5th. TD Cowen upped their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Guggenheim initiated coverage on shares of MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.57.

MasTec 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.