MasTec director Campbell C. Robert sells $348,777 worth of stock via Investing.com

In a recent transaction on September 18, MasTec Inc (NYSE:) Director Campbell C. Robert sold 3,000 shares of the company’s stock, amounting to a total sale value of $348,777. The stock was sold at a weighted average price of $116.2591, with individual trades ranging from $116.1450 to $116.3650.

This sale adjusted Campbell’s direct ownership in the company to 48,173 shares following the transaction. Detailed information on the exact number of shares sold at each price point in the range was made available upon request, according to a footnote in the filing.

The transaction was publicly filed with the Securities and Exchange Commission and indicates a notable movement in the ownership stakes of company insiders. Investors typically monitor such sales because they can provide insight into an insider’s perspective on the company’s current valuation and future prospects.

MasTec Inc, based in Coral Gables, Florida, specializes in infrastructure construction, including water, sewer, pipeline and communications and power line projects. The company’s shares are traded under the symbol MTZ on the New York Stock Exchange.

For those interested in the specifics of insider trading such as this, detailed filings are available and can be accessed through the SEC website or other financial information services that track and report insider market activity.

In other recent news, MasTec, a leading infrastructure construction company, reported a robust second quarter, beating expectations, with revenue reaching $3 billion and adjusted EBITDA of $268 million. The company’s adjusted EPS was $0.96, beating guidance by $0.08. The rest of the company also grew to $13.3 billion, up $500 million from the previous quarter, indicating a strong book of work ahead.

Stifel and Baird adjusted their outlook on MasTec, raising their price targets while maintaining a Buy and Neutral rating, respectively. The revised targets follow MasTec’s strong earnings, particularly in the oil and gas and communications segments, which beat expectations. Robust performance in these sectors drove earnings ahead of analysts’ projections.

In addition, MasTec reported that total orders saw a significant year-over-year increase of 43%, supported by a backlog of approximately $500 million from a major transportation project. This project, which spans about 700 miles, will continue into 2028, contributing about $300 to $500 million in annual revenue. With a reported backlog of 18 months, another $1 billion is expected to be added to the backlog over the next two years. These are recent developments that highlight the company’s strong position.

InvestingPro Insights

The recent insider transaction involving MasTec Inc (NYSE:MTZ) executive Campbell C. Robert comes at a time when the company is experiencing significant financial upheaval. According to InvestingPro data, MasTec boasts a market capitalization of approximately $9.88 billion, reflecting its substantial size in the infrastructure construction sector. With reported revenue growth of nearly 11% over the trailing twelve months through Q2 2024, MasTec demonstrates robust expansion of its operations.

One InvestingPro tip that aligns with this insider activity is analysts’ positive outlook on the company’s earnings. Specifically, seven analysts revised their earnings estimates upward for the next period, suggesting confidence in MasTec’s financial performance. Additionally, MasTec has been profitable over the past twelve months, which could be a contributing factor to the insider’s decision to sell at this time.

Investors may also be interested in the performance of the company’s share price. MasTec recorded a notable return in the last week with an increase of 10.89% and maintains a high return for the past year at 51.77%. However, the company is trading at a high multiple to earnings with a P/E ratio of 1260, which could indicate that the stock is bullishly valued by the market.

For investors looking for additional information, InvestingPro offers additional advice on MasTec, including detailed analysis of share price volatility and gross profit margins. There are 14 more InvestingPro tips available that can be accessed for comprehensive investment analysis and decision support.

Overall, MasTec’s financial health and market performance, along with the insider selling, paint a mixed picture that investors may want to explore further using the detailed metrics and professional information available through InvestingPro.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.