MasTec shares surge 5.38% intraday as institutional investors boost stakes and brokerages upgrade outlook.

MasTec (NYSE:MTZ) surged 5.38% intraday following a $15.08 million institutional investment by Muhlenkamp & Co. Inc., reported on September 22. This purchase, alongside recent stake increases by the Florida Retirement System and Cooper Creek Partners, signaled renewed institutional confidence in the construction services firm. The stock also benefited from a "Moderate Buy" consensus rating from brokerages and positive analyst coverage, including UBS and TD Cowen maintaining "Buy" or "Outperform" recommendations. These developments contrasted with earlier sell-offs in August due to earnings guidance cuts, but recent inflows suggest renewed optimism about MasTec’s operational momentum and market positioning.