BlackRock Amends MasTec Stake to 9.0%, Holding 7.05M Shares
Ticker: MTZ · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 15615
| Field | Detail |
|---|---|
| Company | Mastec INC (MTZ) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a huge chunk of MasTec, but slightly less than before.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership of 7,046,750 shares of MasTec Inc. common stock as of December 31, 2023. This represents a 9.0% stake in the company, a slight decrease from their previous filing. This matters to investors because BlackRock is a major institutional investor, and changes in their holdings can signal their confidence (or lack thereof) in MasTec's future performance.
Why It Matters
This filing shows BlackRock's updated ownership in MasTec, indicating their continued significant, albeit slightly reduced, investment in the company. Large institutional holdings can influence stock stability and investor sentiment.
Risk Assessment
Risk Level: low — This filing is routine and indicates a minor adjustment in a large institutional holding, not a significant risk event.
Analyst Insight
An investor should note BlackRock's continued substantial, though slightly reduced, stake in MasTec, which suggests ongoing institutional interest. This could be a factor in assessing the stock's long-term stability, but doesn't signal an immediate buy or sell.
Key Numbers
- 7,046,750 — Shares Owned (The total number of MasTec Inc. common shares BlackRock Inc. beneficially owns.)
- 9.0% — Ownership Percentage (The percentage of MasTec Inc.'s common stock that BlackRock Inc. beneficially owns.)
- December 31, 2023 — Reporting Date (The date as of which BlackRock Inc.'s ownership stake is being reported.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- MasTec Inc. (company) — the subject company whose shares are being reported
- 7,046,750 (dollar_amount) — number of shares of MasTec Inc. common stock beneficially owned by BlackRock Inc.
- 9.0% (dollar_amount) — percentage of MasTec Inc.'s common stock beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- BlackRock will maintain a significant, but potentially fluctuating, stake in MasTec Inc. throughout 2024. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A is an amendment (Amendment No: 9) filed by BlackRock Inc. to update its beneficial ownership of MasTec Inc. common stock as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of MasTec Inc. does BlackRock Inc. beneficially own according to this filing?
BlackRock Inc. beneficially owns 7,046,750 shares of MasTec Inc. common stock, as stated in the filing.
What percentage of MasTec Inc.'s common stock does BlackRock Inc. own?
BlackRock Inc. beneficially owns 9.0% of MasTec Inc.'s common stock, as indicated in the filing.
When was the event date that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What is the CUSIP number for MasTec Inc. common stock?
The CUSIP number for MasTec Inc. common stock is 576323109, as listed in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding MASTEC INC (MTZ).