Bank of Nova Scotia Has $14.86 Million Stock Position in MasTec, Inc. $MTZ

Bank of Nova Scotia lifted its holdings in MasTec, Inc. (NYSE:MTZ) by 197.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,171 shares of the construction company’s stock after acquiring an additional 30,653 shares during the period. Bank of Nova Scotia owned approximately 0.06% of MasTec worth $14,855,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Victory Capital Management Inc. raised its position in shares of MasTec by 178.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,637,451 shares of the construction company’s stock valued at $573,304,000 after buying an additional 1,690,896 shares in the last quarter. Peconic Partners LLC grew its position in MasTec by 113.3% during the fourth quarter. Peconic Partners LLC now owns 1,600,000 shares of the construction company’s stock worth $347,792,000 after buying an additional 850,000 shares in the last quarter. Coatue Management LLC acquired a new stake in MasTec during the fourth quarter worth approximately $147,357,000. Merewether Investment Management LP increased its stake in MasTec by 59.8% during the 3rd quarter. Merewether Investment Management LP now owns 867,240 shares of the construction company’s stock worth $184,557,000 after acquiring an additional 324,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in MasTec by 71.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 732,886 shares of the construction company’s stock worth $155,965,000 after acquiring an additional 304,358 shares during the period. 78.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MTZ shares. The Goldman Sachs Group lifted their price objective on MasTec from $348.00 to $487.00 and gave the company a “buy” rating in a report on Monday, May 4th. Stifel Nicolaus set a $455.00 price target on MasTec in a research report on Monday, May 4th. Mizuho raised their price target on MasTec from $498.00 to $502.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Citigroup boosted their price target on MasTec from $440.00 to $483.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $493.00 price objective on shares of MasTec in a research report on Monday, May 4th. Nineteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus target price of $466.89.

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 6,500 shares of MasTec stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $371.17, for a total value of $2,412,605.00. Following the transaction, the director owned 10,816 shares in the company, valued at $4,014,574.72. The trade was a 37.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $417.00, for a total value of $1,251,000.00. Following the completion of the transaction, the director owned 30,646 shares in the company, valued at approximately $12,779,382. This represents a 8.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 21.40% of the stock is owned by corporate insiders.

MasTec Stock Down 5.9%

Shares of MTZ opened at $337.55 on Friday. The firm has a 50 day simple moving average of $373.59 and a two-hundred day simple moving average of $330.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.32 and a quick ratio of 1.28. MasTec, Inc. has a one year low of $160.08 and a one year high of $441.43. The company has a market cap of $26.67 billion, a P/E ratio of 59.12 and a beta of 1.77.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, April 30th. The construction company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. MasTec had a return on equity of 17.15% and a net margin of 2.94%.The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the business posted $0.51 EPS. The company’s revenue was up 34.5% compared to the same quarter last year. MasTec has set its FY 2026 guidance at 8.790-8.790 EPS and its Q2 2026 guidance at 2.200-2.200 EPS. Research analysts forecast that MasTec, Inc. will post 9.18 EPS for the current fiscal year.

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.