BlackRock Amends MasTec Stake to 9.0%, Holding 7.05M Shares
Ticker: MTZ · Form: SC 13G/A · Filed: 2024-01-26T00:00:00.000Z
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.
From the Filing
EDGAR Filing Documents for 0001086364-24-004885 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-004885 Filing Date 2024-01-26 Accepted 2024-01-26 17:26:51 Documents 1 Document Format Files Seq Description Document Type Size 1 us5763231090_012624.txt SC 13G/A 11831 Complete submission text file 0001086364-24-004885.txt 13790 Mailing Address 800 S. DOUGLAS ROAD 12TH FLOOR CORAL GABLES FL 33134 Business Address 800 S. DOUGLAS ROAD 12TH FLOOR CORAL GABLES FL 33134 3055991800 MASTEC INC (Subject) CIK : 0000015615 (see all company filings) EIN. : 650829355 | State of Incorp.: FL | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-17309 | Film No.: 24569233 SIC : 1623 Water, Sewer, Pipeline, Comm & Power Line Construction (CF Office: 05 Real Estate & Construction) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)