In a recent filing with the Securities and Exchange Commission, Robert Campbell, a director at MasTec Inc . (NYSE:MTZ), disclosed the sale of 3,000 shares of the company’s common stock. The shares were sold on November 11 at an average price of $145.415 each, amounting to a total transaction value of $436,245. Following this transaction, Campbell retains ownership of 45,173 shares in the company.
In other recent news, infrastructure construction firm MasTec has demonstrated strong financial performance with Q3 revenues reaching $3.3 billion and an adjusted EBITDA of $306 million. The company has raised its full-year revenue projection to $12.225 billion and adjusted EPS estimates to $3.75. Analyst firms Truist Securities, TD Cowen, DA Davidson, and Baird have responded to these developments by adjusting their respective price targets for MasTec. Truist upgraded the stock to a Buy rating and lifted the price target to $173, while TD Cowen and DA Davidson maintained a Buy rating, raising their targets to $160. Baird, however, retained a Neutral rating and adjusted its price target to $153.
These adjustments reflect confidence in MasTec's future performance, driven by its consistent margin improvement, cash generation, and strong presence in high growth markets. The company is also exploring merger and acquisition opportunities, indicating potential for sustained growth. These are recent developments that have been observed in the company's activities.
InvestingPro Insights
As MasTec Inc. (NYSE:MTZ) director Robert Campbell reduces his stake, investors might be curious about the company's current financial standing and market performance. According to InvestingPro data, MasTec boasts a market capitalization of $10.85 billion, reflecting its significant presence in the infrastructure construction sector.
The company's stock has shown remarkable performance, with a one-year price total return of 184.58% as of the latest data. This impressive gain aligns with an InvestingPro Tip indicating that MasTec has delivered a strong return over the last year. Additionally, the stock is trading at 94.63% of its 52-week high, suggesting continued investor confidence.
Despite the recent insider sale, MasTec's financial outlook appears positive. An InvestingPro Tip notes that net income is expected to grow this year, and analysts have revised their earnings upwards for the upcoming period. This optimism is further supported by the company's revenue of $12.18 billion over the last twelve months.
It's worth noting that MasTec operates with a moderate level of debt and does not pay a dividend to shareholders, which may influence investment decisions. For those seeking a deeper analysis, InvestingPro offers 14 additional tips on MasTec, providing a more comprehensive view of the company's financial health and market position.
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