Bank of Nova Scotia Buys 30,653 Shares of MasTec, Inc. $MTZ

Bank of Nova Scotia lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 197.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,171 shares of the construction company’s stock after buying an additional 30,653 shares during the period. Bank of Nova Scotia’s holdings in MasTec were worth $14,855,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MTZ. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of MasTec during the 4th quarter valued at $30,000. Ascentis Independent Advisors acquired a new position in MasTec in the 1st quarter worth about $30,000. CIBC Private Wealth Group LLC increased its holdings in MasTec by 372.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 236 shares of the construction company’s stock worth $51,000 after purchasing an additional 186 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in MasTec by 105.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 355 shares of the construction company’s stock valued at $61,000 after purchasing an additional 182 shares during the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in MasTec in the first quarter valued at about $65,000. 78.10% of the stock is currently owned by institutional investors.

MasTec Price Performance

MasTec stock opened at $337.55 on Friday. The stock’s 50 day moving average is $373.59 and its 200 day moving average is $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. The firm has a market cap of $26.67 billion, a P/E ratio of 59.12 and a beta of 1.77. MasTec, Inc. has a one year low of $160.08 and a one year high of $441.43.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTZ. Zacks Research cut MasTec from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings lowered shares of MasTec from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. UBS Group lifted their target price on shares of MasTec from $420.00 to $453.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Roth Capital reissued a “buy” rating and set a $450.00 target price on shares of MasTec in a report on Monday, May 4th. Finally, The Goldman Sachs Group upped their price target on shares of MasTec from $348.00 to $487.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Nineteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and an average target price of $466.89.

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.