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

Illinois Municipal Retirement Fund decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 9.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 26,754 shares of the construction company’s stock after selling 2,920 shares during the period. Illinois Municipal Retirement Fund’s holdings in MasTec were worth $4,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in MasTec by 163.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,981 shares of the construction company’s stock valued at $121,843,000 after purchasing an additional 648,184 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of MasTec by 171.2% in the 1st quarter. Ameriprise Financial Inc. now owns 390,764 shares of the construction company’s stock valued at $45,607,000 after acquiring an additional 246,666 shares during the last quarter. AQR Capital Management LLC raised its position in shares of MasTec by 23.6% in the 1st quarter. AQR Capital Management LLC now owns 963,749 shares of the construction company’s stock valued at $106,234,000 after acquiring an additional 184,277 shares during the period. Nuveen LLC bought a new position in MasTec during the 1st quarter worth approximately $21,208,000. Finally, Lord Abbett & CO. LLC increased its stake in MasTec by 77.8% in the first quarter. Lord Abbett & CO. LLC now owns 307,419 shares of the construction company’s stock valued at $35,879,000 after purchasing an additional 134,493 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of MasTec in a research report on Wednesday, October 8th. Mizuho set a $254.00 price target on MasTec in a report on Monday, November 3rd. KeyCorp lifted their price objective on MasTec from $236.00 to $246.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Wolfe Research raised MasTec from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group increased their price objective on shares of MasTec from $218.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $229.44.

Insider Buying and Selling

In related news, CAO Timothy Michael Love sold 1,929 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $206.15, for a total transaction of $397,663.35. Following the completion of the transaction, the chief accounting officer directly owned 9,757 shares of the company’s stock, valued at approximately $2,011,405.55. This represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $210.39, for a total value of $420,780.00. Following the transaction, the director directly owned 33,277 shares in the company, valued at $7,001,148.03. This trade represents a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,929 shares of company stock worth $3,394,013. Corporate insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $199.44 on Thursday. The stock has a market capitalization of $15.74 billion, a price-to-earnings 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 fifty day simple moving average of $202.36 and a 200 day simple moving average of $179.28. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 0.70.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.90 billion. During the same period in the previous year, the firm posted $1.63 EPS. The company’s revenue for the quarter 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 EPS for the current fiscal year.

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.