Robert Campbell, a director at MasTec Inc . (NYSE:MTZ), recently sold 3,000 shares of the company's common stock, according to a regulatory filing with the Securities and Exchange Commission. The sale comes amid strong momentum for MasTec, which has delivered impressive returns over the past month and quarter, according to InvestingPro data. The shares were sold at a price of $145 each, amounting to a total transaction value of $435,000. Following the sale, Campbell retains ownership of 42,478 shares in the company. The transaction took place on November 26, 2024, and was disclosed in a Form 4 filing submitted on November 29, 2024. With 11 analysts recently revising their earnings expectations upward and net income projected to grow this year, MasTec's outlook appears positive. For comprehensive insider trading analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, MasTec has been drawing attention with its strong financial performance. The infrastructure construction company reported third-quarter revenues of $3.3 billion and an adjusted EBITDA of $306 million. Based on these results, MasTec raised its full-year revenue projection to $12.225 billion and adjusted EPS estimates to $3.75.
Several analyst firms have shown confidence in MasTec's future performance. Truist Securities upgraded the company's stock to a Buy rating and raised its price target to $173. TD (TSX:TD) Cowen and DA Davidson also lifted their price targets to $160, maintaining Buy ratings, while Baird adjusted its target to $153, retaining a Neutral rating.
These firms' confidence stems from MasTec's consistent margin improvement, cash generation, and strong presence in high growth markets. Furthermore, the company is actively exploring merger and acquisition opportunities, indicating potential for sustained growth. These are recent developments that have been observed in the company's activities.
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