Moody’s upgrades Agnico Eagle’s rating to A3 on debt reduction
Ernst Csiszar, a director at MasTec Inc . (NYSE:MTZ), recently sold 2,517 shares of the company’s common stock, according to a recent SEC filing. The company, currently valued at $9.6 billion, has maintained a GOOD financial health score according to InvestingPro analysis. The shares were sold at an average price of $131.63 each, amounting to a total transaction value of $331,320. Following this sale, Csiszar retains ownership of 23,000 shares in the company. These transactions provide a glimpse into insider activities at MasTec, a company known for its work in the water, sewer, pipeline, and power line construction sectors. With analyst targets ranging from $122 to $200 per share and net income expected to grow this year, investors seeking deeper insights can access comprehensive analysis and 12 additional ProTips through InvestingPro’s detailed research reports.
In other recent news, MasTec, Inc. reported a strong financial performance, with S&P Global Ratings affirming a ’BBB-’ rating and revising the company’s outlook to stable. This adjustment is attributed to MasTec’s earnings growth and debt reduction through 2024, with the company generating $12.3 billion in revenue and $1.2 billion in EBITDA. Moody’s also confirmed MasTec’s Baa3 rating, revising its outlook to stable due to successful deleveraging and improved EBITDA. The company’s strategic focus on clean energy and infrastructure has contributed to these positive financial results.
Analyst firms have shown confidence in MasTec, with DA Davidson maintaining a Buy rating and a $160 price target, while KeyBanc Capital Markets reiterated an Overweight rating with a $168 price target. Both firms highlighted MasTec’s robust margins in the Clean Energy sector and a promising outlook for the Pipeline Infrastructure business. JP Morgan noted that despite a broader market sell-off affecting engineering and construction companies, MasTec has benefited from strong end-market demand, leading to record backlogs and revenue earnings beats.
MasTec’s backlog reached $14.3 billion by the end of 2024, driven by growth in the Clean Energy and Infrastructure and Power Delivery segments. This backlog growth provides good visibility for 2025, with expectations for continued revenue growth and margin improvements. The company’s strong cash flow generation and strategic capital allocation are expected to support organic growth and opportunistic mergers and acquisitions.
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