MasTec director Campbell C. Robert sells $348,777 in stock

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

This sale has adjusted Campbell's direct ownership in the company to 48,173 shares following the transaction. The detailed information about the exact number of shares sold at each price point within the range has been made available upon request, as per the 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 as they can provide insights 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 stock is traded under the ticker symbol MTZ on the New York Stock Exchange.

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



In other recent news, MasTec, a leading infrastructure construction company, has reported a robust second quarter, surpassing expectations with revenues reaching $3 billion and an adjusted EBITDA of $268 million. The company's adjusted earnings per share stood at $0.96, exceeding the guidance by $0.08. The company's backlog also increased to $13.3 billion, up $500 million from the previous quarter, indicating a strong pipeline of future work.

Stifel and Baird have adjusted their outlook on MasTec, increasing their price targets while maintaining a Buy and Neutral rating, respectively. The revised targets follow MasTec's strong earnings, particularly from its Oil & Gas and Communications segments, which exceeded expectations. The robust performance in these sectors drove earnings beyond analyst projections.

Furthermore, MasTec reported that total orders saw a significant year-over-year increase of 43%, bolstered by an approximate $500 million backlog from a major transmission project. This project, spanning around 700 miles, is anticipated to continue into 2028, contributing approximately $300 to $500 million to annual revenue. With an 18-month reported backlog, expectations are set for an additional $1 billion 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's (NYSE:MTZ) Director Campbell C. Robert comes at a time when the company is experiencing significant financial dynamics. According to InvestingPro data, MasTec boasts a market capitalization of approximately $9.88 billion, reflecting its substantial size within the infrastructure construction sector. With a reported revenue growth of nearly 11% over the last twelve months as of Q2 2024, MasTec is demonstrating a robust expansion in its operations.

An InvestingPro Tip that aligns with this insider activity is the analysts' positive outlook on the company's earnings. Specifically, seven analysts have revised their earnings estimates upwards for the upcoming period, suggesting confidence in MasTec's financial performance. Additionally, MasTec has been profitable over the last twelve months, which could be a contributing factor to the insider's decision to sell at this time.

Investors might also be interested in the company's stock price performance. MasTec has shown a notable return over the last week, with a 10.89% increase, and maintains a high return over the last year at 51.77%. However, the company is trading at a high earnings multiple, with a P/E ratio of 1260, which could indicate that the stock is valued optimistically by the market.

For investors seeking further insights, InvestingPro offers additional tips on MasTec, including detailed analysis on stock price volatility and gross profit margins. There are 14 more InvestingPro Tips available, which can be accessed for comprehensive investment analysis and decision-making support.

Overall, MasTec's financial health and market performance, coupled with the insider sale, present a mixed picture that investors may want to explore further using the detailed metrics and professional insights available through InvestingPro.

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Source: Investing.com