Illinois Municipal Retirement Fund Has $4.56 Million Stake in MasTec, Inc. $MTZ

Illinois Municipal Retirement Fund reduced its holdings in MasTec, Inc. (NYSE:MTZ) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,754 shares of the construction company’s stock after selling 2,920 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MasTec were worth $4,560,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC acquired a new stake in MasTec in the 4th quarter valued at approximately $227,000. Envestnet Asset Management Inc. increased its position in MasTec by 32.2% during the first quarter. Envestnet Asset Management Inc. now owns 45,736 shares of the construction company’s stock worth $5,338,000 after acquiring an additional 11,143 shares during the period. Stratos Wealth Partners LTD. raised its stake in MasTec by 71.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,626 shares of the construction company’s stock valued at $307,000 after purchasing an additional 1,097 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in MasTec by 16.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 743 shares of the construction company’s stock valued at $87,000 after purchasing an additional 104 shares during the period. Finally, Cerity Partners LLC grew its position in MasTec by 24.1% in the 1st quarter. Cerity Partners LLC now owns 30,088 shares of the construction company’s stock worth $3,512,000 after purchasing an additional 5,835 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Cowen increased their target price on shares of MasTec from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Baird R W upgraded MasTec from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Citigroup raised their target price on MasTec from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Wolfe Research upgraded shares of MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Wednesday, September 17th. Finally, The Goldman Sachs Group upped their target price on shares of MasTec from $195.00 to $227.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and an average price target of $229.44.

MasTec Trading Up 0.9%

Shares of MTZ stock opened at $199.44 on Thursday. The company has a market capitalization of $15.74 billion, a P/E ratio of 59.00 and a beta of 1.88. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $224.03. The firm has a 50-day moving average price of $202.36 and a 200 day moving average price of $179.28. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.17. MasTec had a net margin of 2.04% and a return on equity of 12.71%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The company’s revenue was up 22.0% on a year-over-year basis. MasTec has set its FY 2025 guidance at 6.400-6.400 EPS. Research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $200.44, for a total transaction of $2,004,400.00. Following the transaction, the chief operating officer owned 184,249 shares of the company’s stock, valued at $36,930,869.56. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Timothy Michael Love sold 1,929 shares of MasTec stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $206.15, for a total value of $397,663.35. Following the completion of the sale, the chief accounting officer owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. The trade was a 16.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,929 shares of company stock valued at $3,394,013. 21.30% of the stock is currently owned by corporate 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.