52,416 Shares in MasTec, Inc. (NYSE:MTZ) Purchased by Bank of Nova Scotia

Bank of Nova Scotia acquired a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 52,416 shares of the construction company's stock, valued at approximately $7,136,000. Bank of Nova Scotia owned approximately 0.07% of MasTec as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shelton Capital Management raised its stake in MasTec by 49.3% in the fourth quarter. Shelton Capital Management now owns 15,322 shares of the construction company's stock valued at $2,086,000 after buying an additional 5,060 shares during the period. Cerity Partners LLC raised its stake in MasTec by 4.8% in the fourth quarter. Cerity Partners LLC now owns 24,253 shares of the construction company's stock valued at $3,278,000 after purchasing an additional 1,102 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of MasTec by 16.9% during the 4th quarter. Federated Hermes Inc. now owns 8,886 shares of the construction company's stock worth $1,210,000 after acquiring an additional 1,287 shares during the period. Atika Capital Management LLC bought a new stake in MasTec during the fourth quarter worth $7,079,000. Finally, Russell Investments Group Ltd. boosted its stake in MasTec by 2.0% in the fourth quarter. Russell Investments Group Ltd. now owns 123,944 shares of the construction company's stock valued at $16,874,000 after buying an additional 2,416 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

MTZ has been the topic of a number of recent research reports. Barclays lifted their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Robert W. Baird decreased their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Piper Sandler started coverage on MasTec in a report on Tuesday, April 8th. They set an "overweight" rating and a $134.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Finally, Guggenheim reiterated a "buy" rating and set a $195.00 price target on shares of MasTec in a report on Tuesday, March 25th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MasTec currently has a consensus rating of "Moderate Buy" and an average price target of $153.87.

MasTec Price Performance

MTZ traded up $0.16 on Tuesday, hitting $118.36. 657,762 shares of the company's stock traded hands, compared to its average volume of 933,408. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 105.68 and a beta of 1.62. The company's 50 day simple moving average is $123.75 and its 200-day simple moving average is $132.95. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Activity at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.30% of the stock is currently owned by insiders.

MasTec Profile

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.