Illinois Municipal Retirement Fund Cuts Stock Holdings in MasTec, Inc. $MTZ

Illinois Municipal Retirement Fund reduced its stake in MasTec, Inc. (NYSE:MTZ) by 7.3% during the third quarter, HoldingsChannel.com reports. The fund owned 24,798 shares of the construction company’s stock after selling 1,956 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MasTec were worth $5,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC bought a new stake in shares of MasTec in the fourth quarter worth about $227,000. NewEdge Advisors LLC grew its holdings in MasTec by 32.6% during the 1st quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock valued at $514,000 after buying an additional 1,083 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in MasTec during the 2nd quarter valued at approximately $271,000. Blair William & Co. IL bought a new stake in MasTec in the 2nd quarter worth approximately $252,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of MasTec by 15.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,837 shares of the construction company’s stock worth $995,000 after acquiring an additional 760 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MTZ shares. Zacks Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Barclays lifted their price objective on shares of MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Cantor Fitzgerald assumed coverage on shares of MasTec in a research report on Friday, January 23rd. They set an “overweight” rating and a $274.00 target price on the stock. Wall Street Zen downgraded shares of MasTec from a “buy” rating to a “hold” rating in a report on Saturday. Finally, KeyCorp reissued an “overweight” rating and set a $264.00 price objective on shares of MasTec in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $238.16.

MasTec Price Performance

MasTec stock opened at $269.88 on Friday. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $276.79. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $234.33 and a 200-day moving average price of $209.74. The firm has a market capitalization of $21.29 billion, a PE ratio of 64.11 and a beta of 1.94.

MasTec Profile

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.